New Tax Proposed in El Salvador

The Finance Ministry is discussing a tax on large capitals to fund security expenses.

Tuesday, November 9, 2010

At the request of President Mauricio Funes, the Ministry of Finance examines the implementation of a equity tax in order to finance spending on public safety.

La Prensa Gráfica on its website reported statements from President Mauricio Funes, on the subject, "It is a equity tax to fund security costs." ¿And where did the idea come from? From my meeting with President (Alvaro) Uribe, in Colombia."

More on this topic

El Salvador: Confusion Over Security Tax

December 2015

The private sector is protesting against the fact that companies are making losses because of lack of clarity in dissemination of government information and in the management of collection of the new security tax.

From a statement issued by the Chamber of Commerce and Industry of El Salvador:

New Taxes on Cooperatives and Solidarity Associations

October 2013

The fiscal consolidation document presented by the Ministry of Finance of Costa Rica proposes considering surplus capital distributed by cooperatives and solidarity associations as passive income.

"Capital passive income, is, for example, dividends, mutual funds and bank deposits, among other things, which currently have different rates. The initiative proposes a single rate of tax for them. "

El Salvador: New Tax on Businesses

October 2015

Companies with net annual earnings above $500,000 must pay the equivalent of 5% of them to finance public security fund.

From a statement issued by the Legislative Assembly of El Salvador:

The Legislature approved the "Law of Large Taxpayers Special Contribution to the Public Security Plan", with which measures will be implemented related to governance, prevention of crime and preservation of public order (October 29).

Guatemala: Tax to Fund Security

January 2015

The government is to propose the creation of a new tax to finance part of the budget of the Ministry of Interior, which "would be directed towards the upper and upper middle class" .

This tax would not be for the entire population, since according to the Interior Minister, "...

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Chicas Vílchez y Ruiz

Chicas Vilchez & Ruiz is a professional finance and accounting firm providing Auditing, Consulting, Outsourcing, and Tax services in El Salvador, Central America and the United States.
Operates in El Salvador, Costa Rica, Guatemala, Panama, Honduras and Nicaragua
Phone: (503) 2264 8069

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