NOTIFICATION PURSUANT TO ARTICLE III:3 OF THE
GENERAL AGREEMENT ON TRADE IN SERVICES

The following notification from the delegation of Nicaragua, dated 19 March 2025, is being circulated to the Members of the Council for Trade in Services.

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1  MEMBER NOTIFYING:

Nicaragua

2  NOTIFICATION UNDER ARTICLE:

Article III:3 of the General Agreement on Trade in Services

3  DATE OF ENTRY INTO FORCE:

2 August 2024

3.1  Duration:

Indefinite

4  AGENCY RESPONSIBLE FOR ENFORCEMENT OF THE MEASURE:

Tourism Incentives Committee

5  DESCRIPTION OF THE MEASURE:

Measure:

Law No. 1211, Law on Tourism Development Incentives

Description:

The purpose of the Law on Tourism Development Incentives is to stimulate tourism development as a means of contributing to the creation of infrastructure for attracting tourism. The Law establishes tax exemptions for tourism development projects involving a minimum investment of at least USD 300,000 or its equivalent in local currency, and for small and medium-sized enterprises (SMEs) with tourism activity amounting to at least USD 50,000 or its equivalent in local currency.

Measure:

Presidential Decree No. 16-2024 - Regulations implementing Law No. 1211, Law on Tourism Development Incentives

Description:

The purpose of Presidential Decree No. 16-2024 is to establish the provisions for the implementation of Law No. 1211 on Tourism Development Incentives. The provisions of these Regulations shall be applicable to all natural or legal persons, whether national or foreign, that apply for incentives under the Law.

6  MEMBERS SPECIFICALLY AFFECTED, IF ANY:

None

7  TEXT AVAILABLE FROM:

Law No. 1211, Law on Tourism Development Incentives

http://legislacion.asamblea.gob.ni/Normaweb.nsf/9e314815a08d4a6206257265005d21f9/c66303bb972f2ab906258722004e1236

Presidential Decree No. 16-2024 - Regulations implementing Law No. 1211, Law on Tourism Development Incentives

http://legislacion.asamblea.gob.ni/Normaweb.nsf/164aa15ba012e567062568a2005b564b/9d2ef688690f55ee0625730800533ced#:~:text=El%20presente%20Reglamento%20tiene%20por%20objeto%20establecer%20las,a%C3 per centB1o%202024%2C%20en%20adelante%20denominada%20como%20la%20Ley

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