business received a rude awakening last Friday when the DEI (Dirección
Ejecutiva de Ingresos de Honduras)
agents, the Honduras equivalent to the IRS, arrived on Utila in full
DEI (translated from Latin "God")
within hours, closed many businesses for not having proper receipts
or documentation. The yellow tape seals, which in large letters read
"Yo infringi el Ley" or I broke the Law covered the doors
to groceries stores, restaurants, bars and dive shops.
rules were simple, if you did not pay the 23000 lps fine, you were immediately
shut down. The raid seemed timed to make an example of
business on Utila, as it was Friday when the DEI arrived. This made
it impossible for many to pay the fine before the banks closed at
business that were closed will be able to open again tomorrow,
Friday the 17th of June. Only businesses that removed the DEI seals
were double fined and ordered to close 15 days.
has been criticized by their debtors, The World Bank, for having a very
low tax collection rate
of 10% of GDP. They further are connecting this data to high crime
rates, in other words the more tax you pay the safer you will
is also worth noting that just after these raids began Standards
elevated Honduras' Foreign Currency Credit Rating Outlook to
POSITIVE from STABLE.