El Salvador: Taxes on Informal Sector

The Chamber of Commerce and Industry has requested that the new taxes proposed by the Treasury be discussed.

Monday, August 16, 2010

The bill proposed by the Salvadoran Treasury, the "Tax Simplification Law", proposes special charging mechanisms aimed at micro-companies and the informal sector.

According to Diariocolatino.com, the Tax Simplification Law suggests two approaches. The first is called the Special Micro-tax Regime (REMI in Spanish), which is aimed at micro-companies and would be collected by regional authorities. The other, called the Special Mono-tax Regime (REM in Spanish) is aimed at the informal sector. Both seek to broaden the country's tax base.

More on this topic

Nicaragua's Economy Becoming More Formal

July 2016

Between January and April 2015 82,000 new employees of companies were registered with the Nicaraguan Institute of Social Security department, which represents growth of 13%.

Companies in the construction, transportation and finance sectors signed up the most new employees to the social insurance scheme in the first four months of the year. 

Guatemala: Informal Economy Tax Discarded

February 2014

Among other criticisms it has been noted that the tax would encourage established companies to move towards informality.

The executive has rejected the proposal that individuals and organizations who operate informally pay a $20 annual tax, which was intended to expand the tax base.

Guatemala: Tax to Regulate Informal Economy

February 2014

The Executive has proposed that individuals and business organizations that operate informally pay a single tribute of $20 a year.  

The Guatemalan vice president, Roxana Baldetti proposed formalizing the informal economy through payment of a single annual tax of $20 which would apply to micro, small and medium enterprises operating in this segment of the economy.

Panama: Informal Sector of the Economy Decreases

July 2012

In 2006 there were 957.017 insured people and Panama in 2011, the number exceeded 1,2 million, indicating that the informal sector of the economy has declined.

From a press release from the Ministry of Economy and Finance:

According to the publication "Panama in Figures", from the National Institute of Statistics and Census, in 2006 in Panama had 957.017 registered for social security and for 2011, the number exceeded 1,2 million, indicating that the informal sector of the economy has declined . This is a great reference for estimating the level of formality of the economy, because as people are insured, their working relationship and commercial operations are formalized, said the Director of Economic and Social Analysis at the Ministry of Economy and Finance, Roger Alvarado.

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