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