The Central Bank of Nicaragua has issued a directive requiring all economic agents to offer their goods and services in the national currency, the córdoba. This measure came into effect on January 1, 2025, with exceptions for family remittances, exports and imports, and international flights.
Why is this being implemented?
According to the Board of Directors of the Central Bank, the decision was made with the fundamental goal of normalizing internal and external payments, facilitating accounting and tax management for multinationals and investment funds.
Statements from the Central Bank
The Central Bank stated that “the prices of certain goods and services offered nationally may be expressed in foreign currency.” Additionally, it noted that “users may choose to receive or make their payments in foreign currency or córdobas, as appropriate.”
How to display the Córdoba
According to the new directive issued by the monetary authority, economic agents must indicate the prices of the goods and services they offer in the national currency, the córdoba, using its symbol ‘C$’.
The new regulation mandates the use of the córdoba in the pricing of goods and services offered nationally. These products include most items and services: food, clothing, work equipment, leisure and tourism, telecommunications, etc.
If you wish to access the complete list of products and services whose prices must be displayed in córdobas, the local currency of Nicaragua, click here.
Control and supervision
Regulatory entities and public institutions will be able to issue official guidelines, supervise, and take necessary actions to ensure compliance with this provision. The Law on the Protection of Consumer and User Rights supports this new rule, ensuring that consumers receive clear and fair pricing in córdobas.
Tax compliance in Nicaragua
Regulatory compliance is one of the pillars for your multinational or fund to thrive in any country. Trust Auxadi to manage your tax obligations in Nicaragua and ensure a smooth transition.
Auxadi is a Spanish company that offers international accounting, tax, payroll, and legal services to multinationals and funds in over 50 jurisdictions, with 22 wholly-owned subsidiaries worldwide. Our experience and global presence allow us to provide tax solutions tailored to your needs, ensuring efficient management in compliance with local tax regulations.
Contact us today and discover how we can facilitate your international expansion.
Can Auxadi help?
Auxadi can become your ideal partner. We offer a one stop shop value added outsourcing services in the areas of accounting and reporting, tax compliance, payroll management and representation services, among others.
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All information contained in this publication is up to date on 2024. This content has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice.No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this content, and, to the extent permitted by law, AUXADI does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.