First Package of Tax Measures

The future Salvadoran Finance Minister is analyzing the first economic measures by the incoming government along with his team.

Friday, May 29, 2009

The future Finance Minister, Carlos Cáceres, said during an interview with La Prensa Gráfica that the first steps to be taken will be the unification of the Customs Department’s information system.

La Prensa Gráfica also published: "The elimination of tax preferences such as "draw-back," inequities in the payment of taxes on certain products and the creation of a simplified system of taxation for the informal sector are only part of the list of measures that the future Finance Minister is analyzing."

More on this topic

Consultation on Tax Reform in Costa Rica

November 2010

The Finance Minister began talks with political groups trying to identify a project with as much support as possible prior to presentation.

Fernando Herrero, minister of finance, stated to Aaron Sequeira of that the basics of the first draft of the proposed tax reform is progressiveness and simplicity, with the Value Added Tax (VAT) and Income Tax as the main sources of revenue.

Nicaragua: Analysis for a Tax Reform

February 2010

Funides, the Nicaraguan Foundation for Economic and Social Development, published a document called “Discussion on Nicaragua’s Tax Reform”.

The study comprises various sections. Funides starts by making a brief history of the country’s public finances, and discusses the basis for a healthy tax system. It analyzes the road ahead and proposes topics to be considered before deciding the scope of a tax reform.

El Salvador: Tax Reform to be Discussed with Companies

October 2009

The Government will create a commission to discuss the tax reform project with private enterprises.

Alex Segovia, Technical Secretary for the President, explained that this commission will analyze the proposal, in order to modify aspects that may could affect the country.

Panama to Approve Tax Reform in 2009

May 2009

Among the main reforms that the tax system is looking to simplify is the elimination of alternative income tax calculation.

The new income tax rate that will be applied has yet to be defined. reflected the statements of the new Economy and Finance Minister, Alberto Vallarino: "I am a believer in low taxes because they help in collection, especially in countries where we do not have a culture of paying taxes, which is a reality not only in Panama, but in every Latin American country."

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