El Salvador: Assets Declaration Still Required

Funes vetoed a legislative decree which removed the obligation of taxpayers with annual salaries exceeding $ 75 thousand a year or property worth more than $ 300 thousand.

Tuesday, November 16, 2010

In the article by Mirella Cáceres and Liseth Alas from Elsalvador.com, they outlined that "the president based his decision on the fact the measure would limit the actions of the Tax Administration in their fight against tax evasion and tax avoidance and that it would violate articles 1, 3, 86 and 131 of the Constitution."

President Mauricio Funes dismissed criticism for maintaining compulsory asset declaration by the business sector, stressing the need for such disclosure reports as a fiscal tool essential in a democratic and fair society."

More on this topic

Aceros de Guatemala Pays $103 million to Treasury

May 2016

The amount paid to the Tax Authority corresponds to unpaid taxes, plus penalties and interest.

An article on Lahora.gt reports that the Superintendent of the SAT, Juan Francisco Solorzano, said that "... It is the largest payment made by any entity, in relation to adjustments that had been made or that had been ordered as a result of a judicial process from which it was ruled that there was tax fraud or tax evasion. "

More Fiscal Control in Costa Rica

September 2013

In order to check the results declared at the close of 2013 the Treasury has expanded powers to obtain information from taxpayers.

An article in Nacion.com by Oscar Rodriguez reports that "In this period, which ends Sept. 30, the Treasury may apply for the first time in a full fiscal year, the rules given in fiscal transparency laws and strengthening tax management, approved in September 2012.

The Corruption of Top Public Officials

March 2012

Making sure that top public officials declare their assets and income is vital for stopping corruption in public affairs.

A statement by the World Bank reads:

Disclosure by public officials of their income, assets and interests should be mandated if the fight against corruption is to succeed, according to a study released today by the Stolen Asset Recovery (StAR) Initiative of the World Bank and the United Nations Office on Drugs and Crime.

Comparative Ibero-American Tax Guide

May 2010

Deloitte Panama published a complete tax guide comparing the most relevant fiscal matters between Ibero-American nations.

The document includes the following topics:

0. Comparative Summary
1. Tax on company profits
2. Tax on income from employment, economic activities, capital assets, real estate, and capital gains of individuals.

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