Salvador's import duties go online
Exporters to El Salvador will be able to pay Salvadoran import duties online under a scheme launched by the Guatemalan association of exporters (Agexport) and Banco G&T Continental.
Thursday, April 24, 2008
Besides cutting red tape, the new system should reduce the risk of robberies. Currently truck drivers have to carry cash so they can pay the duties at El Salvador's border.
Low prices of the main products sold abroad caused the country's foreign exchange earnings from exports to grow by only 0.2% in September.
The sector exported $552 million in the first seven months of the year, 14% more than same period of 2009.
Between January and August 2013 $1.135 billion was raised in VAT on imports, while in the same period in 2012 the amount was $1.137 billion.
ANEP of El Salvador calculates the trade embargo with Honduras produced $36 million in losses each day for Central America, as calculated globally.
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