El Salvador: Incentives for Tourism Investments Extended

Tourism investments above $25000 and categorized as of national interest will be able to enjoy tax incentives for another five years.

Friday, August 14, 2015

"... They shall be entitled to the following incentives: exemption from taxes on real estate transfer, exemption from customs duties on the import of their goods, exemption from payment of income tax for a period of ten years and partial exclusion of municipal duties imposed for the period of 5 years from the start of operations relating to tourism activities for up to 50% of its value. "

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

In order to support efforts to strengthen the economic growth and development of the country, the National Assembly passed with 73 votes, an amendment to the Law on Tourism, referring to Article 36 of that law, in the sense of extending it for 5 more years so that tourism entrepreneurs who make new investments in a project of national interest, in an amount equal or greater than $25,000.00, will receive tax incentives.

More on this topic

Tax Incentives for the Tourism Sector

January 2020

In Panama, a bill was approved that will grant tax exemptions until 2025 to those who make investments in hotels and recreational activities.

On December 31st, President Cortizo sanctioned the bill that provides tax incentives to the tourism sector by modifying some of Law 80 of November 8th, 2012.

El Salvador: Veto of Free Zone Law Reform

September 2019

Nayib Bukele returned to the Legislative Assembly the reform to the law of Free Zones that granted tax benefits for an additional period of 10 years to companies in the country to increase their investment in 100% with respect to the initially made.

On August 29, 2019, the Assembly informed that the Legislative Plenum endorsed the reform to the Law of Industrial and Commercial Free Zones, establishing that the users of these zones would have a term of 10 additional years (before there were five) to continue enjoying total exemption from taxes, which would be applicable once the period established for the regular enjoyment of this benefit expired.

Panama: Law on Incentives for Tourism Takes Effect

March 2015

The new executive order establishes the requirements which must be followed in order to qualify for government incentives to develop tourism activities.

Entrepreneurs interested in applying for these benefits "... must submit to the Directorate General of Revenue a certificate from a competent authority to verify that they have made an investment related to tourism."

El Salvador: Tax Breaks for Tourism Projects

October 2014

$91 million is the estimated amount of the investment projects which have already been approved or are pending which will receive the tax incentives offered by the government for investment in the tourism sector.  

From a statement issued by the Ministry of Tourism of El Salvador (MITUR):

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