Newspapers in El Salvador to Pay Income Tax

The Government is proposing amending the Press Law to tax the income of the companies that own printed newspapers, keeping tax exemptions on paper and ink.

Friday, May 23, 2014

Establishing a concept of fairness and justice between taxing employers and not censorship is, according to Finance Minister Carlos Cáceres, the purpose of the proposed new tax for the companies that own printed newspapers, which until now have been exempt from income tax (ISR).

"... The Minister explained that the amendment to the Press Law being promoted by their administration ... does not threaten freedom of expression ... and that Article 8 of the reform contains a lock to ensure freedom of expression. That article says. "Printing presses will not be subject to censorship or security in accordance with the provisions of the Constitution" "

"Caceres said ... that the companies engaged in the printing of written materials will continue to enjoy 'the same benefits they have to make newspapers and books.' The same article states that "the importation, production, distribution or sale of printed products are exempt from taxes, duties or charges. Also benefiting from the same exemption are materials for the development or production of those products. "



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Anti Laundering Law Reformed in El Salvador

August 2014

The amendments made to the law against money laundering exclude the media from the list of subjects required to report transactions.

With this amendment passed in the Legislative Assembly of El Salvador's, the Law Against Money and Asset Laundering will be only oblige financial institutions to report to the Finance Unit of the Attorney General cash transactions of $10 thousand or more and other formats when they are over $25,000.

Nicaraguan Businessman Buys El Nuevo Diario

May 2011

In the end it was not the Pellas Group that saved the newspaper, but Ramiro Ortiz Mayorga, an entrepreneur who has signed an agreement on funding.

The financial and economic crisis in El Nuevo Diario seems to have found a solution, at least for now. The fate that could have befallen the online newspaper opposing the Sandinista government had caused serious concern because of the imbalance that would have occurred in the media, seeing as the most interested in acquiring the paper was an economic group closely akin to the government.

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