El Salvador: Less Taxes on Financial ActivityA proposal has been made to eliminate the tax on financial operations and lower from 20% to 5% income tax paid by foreign investors in the stock market.Thursday, June 4, 2015
The reform which was carried out in September 2014 on the taxes charged on transactions in the financial market has affected market activity, say industry representatives. Carlos Araujo, president of Banco Azul, said that "the tax has had a direct impact on the decline in bank deposits; However, the main reason could be the country's economic situation.'" Source: laprensagrafica.com ¿Busca soluciones de inteligencia comercial para su empresa?Taxes and the Stock MarketAugust 2018 The proposal to increase the tax on interest on financial investments in Costa Rica could eventually make credit more expensive for both the private sector and the government. El Salvador: Less Taxes, More Stock Exchange TransactionsJanuary 2016 Lowering the tax on transactions for non-domiciled investors from 20% to 3% had a positive effect on the performance of the stock market in 2015, which grew by 6% compared to 2014. El Salvador: Tax on Stock Market Gains LoweredNovember 2015 A reduction from 20% to 3% has been made on withholding tax on income from investments in securities traded on the local stock market. Double Tax on Financial TransactionsSeptember 2014 Market actors in El Salvador claim that transactions are being subjected to double retention, both by brokerage firms and the bank related to it.
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