El Salvador Confirms "Drawback" Elimination

On January 1st 2010, the "Drawback", a 6% incentive granted by the Government to exports, will be terminated.

Tuesday, September 1, 2009

This was announced by President Mauricio Funes, who added that the measure was agreed with exporting companies and the National Association of the Private Enterprise (ANEP).

"With ANEP and exporting companies we have agreed to maintain the 6% incentive until when the strategy for fostering exports becomes active ... and we intend to have it ready by the end of the year, effectively eliminating the 'drawback' on January 1st, 2010", said the president, as reported by website Elsalvador.com.

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El Salvador: Call to Extend Exporter Refunds

May 2009

The export sector seeks a 4-year extension of the 6% refund, which expires at the end of 2010.

Both the Corporation of Exporters of El Salvador (COEXPORT) and the Salvadoran Association of Industrialists (ASI) are requesting a 4-year extension of the 6% refund or drawback for exporters from the new government.

El Salvador Will Maintain Subsidy for Exporters

October 2009

Until there is a new incentive policy, the government will maintain the "drawback", a 6% reimbursement on exports outside Central America.

This new policy will be discussed by a technical commission composed by members of the Salvadoran Exporters Corporation and the Economy Ministry.

Salvadoran Exporters Demand Compensation for Removal of ‘Drawback’

February 2010

The ‘Drawback’, a 6% incentive for Salvadoran exporters, was removed on January 1st.

Exporters gathered at Coexport (Salvadoran Exporters Corporation) complain that the current proposal for promoting exports does not include a compensation for the removal of the incentive. They appreciate the inclusion of their suggestions for greater support to new exports, as well as increasing the number of exporting companies.

Salvadoran Authorities Propose New Measures to Foster Exports

January 2010

The government proposed a new strategy to promote exports, which includes 21 different programs.

One of the programs will provide bonds for companies implementing responsible labor practices, while another will reward companies producing under environmental rules.

Héctor Dada, Economy Minister, told Laprensagrafica.com that "we are not focusing just on increasing exports, but on fostering the production of exportable goods.

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