2% - INATEC
0-100,000 NC - 0%
100,001 NC - 200,000 - 15% above 100,000
200,001 NC - 250,000 NC - 20% above 200,000
350,001 NC - 500,000 NC - 25% above 350,000
500,001 NC + - 30% above 500,000
Minimum wage ranges within the nine economic sectors from 3,187.43 Nicaraguan Cordobas monthly (in the agricultural sector) to 7,133.44 Nicaraguan Cordobas monthly (in the financial sector).
2) Instituto Nacional Tecnológico: 2%
There are 9 public holidays.
To terminate employees, employers must request for termination from the labor inspection department. At the time of dismissal, the employee is entitled to remaining vacation pay and their annual bonus.
Employees must provide 15 days notice.
Those employed for up to 3 years are entitled to one months salary for each year employed. From 4-6 years of employment is entitled to 20 days salary for each year. Above 6 years of employment is entitled to 5 months salary.
VAT is 15% standard rate.