Unifirst Nicaragua obtains an extension of tax benefits for 10 years
Unifirst Nicaragua, Sociedad Anónima was established and operated as a user company of the Free Trade Zone regime within the Republic of Nicaragua since 2012, under the modality of user, which has allowed it to enjoy multiple tax benefits during its first decade of operation.
That is why, under the provisions of Law No. 917, Law of Export Free Zones, Unifirst Nicaragua with the legal advice of García & Bodán filed a request for extension of the period of exemption of income tax generated by its activities in the Zone before the National Commission of Free Zones, obtaining satisfactorily the extension of the validity of the tax benefits for a new period of ten years.
The lawyers of García & Bodán were also in charge of the review of all the requirements, both of a legal and administrative nature, required by the applicable Law and the National Commission of Free Zones.
The transaction was led by Terencio García, Regional Managing Partner of García & Bodán, together with Valeska Fonseca, Associate of the Managua (Nicaragua) office.
Unifirst Nicaragua is a subsidiary of the transnational UniFirst Corporation (NYSE: UNF), which is one of the world’s leading companies in the supply and servicing of uniform and workwear programs, delivery of facility service products, as well as first aid and safety products and services. UniFirst manufactures its own branded workwear, protective clothing, and floorcare products. It’s more than 260 locations allow it to service over 300,000 customer locations and outfit over 2 million workers every business day.