Honduras Moves to Reform Its Alternative Minimum Income Tax

A recent E&Y Global Tax Alert update brought focus to the Honduran government’s move to reform the alternative minimum income tax (AMT). Under current rules, individuals and companies with gross income of more than approximately $420,000 (10 million Lempiras) may be subject to a 1.5 percent alternative AMT calculated on gross income. The ordinary tax is calculated as 25 percent of net taxable income, and the larger of the ordinary tax and the AMT is payable as the income tax.

In a bill submitted to Congress, current rules would be modified, with the AMT reduced to 0.75 percent of gross income for individuals and entities engaged in sales or production in several categories, including medicines for human use, cement production and distribution, bakery-related products, and state-owned-company provided public utility services.

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