The law containing Amendments to the Nicaragua Tax Law was approved 10 December 2014, and published 18 December 2014. The main changes include: The withholding tax rate on interest, royalty and leasing income derived by non-residents is increased from 10% to 15% The withholding tax on employment income derived by non-residents is reduced from 20% to 15% The requirement for Nicaraguan VAT payers to self-assess VAT on supplies from suppliers not established in Nicaragua is abolished The provision for a reduction in the rate of tax on income from economic activities from 2016 by 1% per year over 5 years...