El Salvador: Incentive for the Tourism Sector

An initiative put forward by the Executive Power proposes to create a registry of tourism companies and include more businesses in the tax incentive programs.

Wednesday, December 20, 2017

The bill presented by the Executive Branch also includes the creation of a new entity, which would be called the National Tourism Council (CNT), and would consist of public and private sectors. 

Laprensagrafica.com reports that "...The country already has a Tourism Law of 2005, which was reformed in 2010 and in 2015.  The head of the Ministry of Tourism (MITUR), José Napoleón Duarte, explained that the idea is to adapt the legislation to the new requirements of the sector, for which he proposes more specific categories to define for each company."

"... As for tax incentives, which are already applied on accommodation, transportation and recreation companies, with the exception of nightclubs and information centers, the proposal is to include shops and craft workshops. The incentive given to boost tourism is the exemption from paying taxes on the purchase of a property that will be used for tourism."  

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From a statement issued by the National Assembly of Panama:

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