Monday, January 26, 2009

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El Salvador: 20% Decrease in Customs Collection Expected

May 2009

The Customs Director General is projecting revenue of about $1 billion, according to preliminary estimates for 2009.

During the first quarter of 2009, general collection decreased by 16%, $115.7 million less than for same period in 2008.

German Rivas wrote in Laprensagrafica.com: "Of this total, 40% was collected by Customs, which recorded a decrease of 25% from January to April this year, with the maritime border of Acajutla in Sonsonate and the land border of San Bartolo in San Salvador being the ones that were impacted the most. The five products that bring in the most resources with respect to duties on imports (DAI) and Value Added Tax (VAT) are fuel, machinery, electrical equipment, cars and plastic articles.

Improved customs traffic sought in El Salvador

December 2008

The level of customs risk for exporting companies will be evaluated jointly by the private sector and the authorities.

The evaluation will take place in order to speed up the processing of merchandize and to improve global fee trade indicators.

Under the Business Alliance for Secure Trading project, promoted by the Chamber of Commerce and Industry of El Salvador (CCIES), the private sector is seeking to minimize the risk that exporters face from customs processes, providing them with a certificate which to date is not approved by the government sector.

Nicaragua Removes VAT from Central American Products

January 2013

A Nicaraguan business leader announced that its government will maintain equal tax treatment for products imported from countries in the region.

The affected Central American employers expect the Nicaraguan government to sign the rectifying documents as soon as possible so that the Directorate General of Customs can stop collecting the tax from today.

El Salvador: Free Shop Items to Pay VAT Tax

March 2010

Sales to inbound passengers in free shop stores at the airport must now include the Value Added Tax.

The tax authority has notified store owners that they must include the 13% VAT tax plus the corresponding income tax, when selling to inbound passengers. This will not apply to passengers leaving the country.

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