Taxes reforms tax reform taxes Government income tax Carlos Cáceres Guatemala Congress Increased taxes Salvadorean Association of Private Enterprise (El Salvador) Treasury Ministry (El Salvador) raising taxes Asamblea Legislativa (Costa Rica) Asamblea Legislativa (El Salvador) Dulcidio De La Guardia

Panama: "Flat-Tax" Won't Be Over 30%

The tax reform bill includes the creation of a 'flat-tax' scheme, which would come into effect in 2010.

Monday, November 16, 2009

This tax will replace the Alternate Income Tax Calculation, lowering the tax burden for individuals and businessmen, argued Dulcidio De La Guardia, finance vice minister.

"According to tax experts, this system could lead to higher government revenue. That was the case in the countries who implemented it, like Hong Kong and some European nations", reports Prensa.com.

Source: Prensa.com

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Dulcidio De La Guardia

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Global Income On The Table Again

July 2018

The new tax reform proposal presented by the Ministry of Finance of Costa Rica includes the creation of a global income system to impose and collect a tax on the profits of companies and individuals.

Taxing all of the profits of natural and legal persons, including those currently paid separately by the identity code income method, is the principal new feature of the new tax reform plan presented by the Ministry of Finance.

Guatemala: What Will Be Taxed and By How Much

August 2016

The proposal raises income tax from 25% to 29% for profits of over $38 billion a year, royalties for extracting gold and silver from 1% to 10%, taxes on fuels and a tax of $0.65 tax per bag of cement.

See document by the Ministry of Finance of Guatemala with details on each tax increase.

More Taxes in El Salvador

July 2013

The third tax bill is now ready; it will tax bank transfers, luxury homes, as well as products used by printing companies.

The Ministry of Finance has not yet said when it will send the plan, which expects to increase revenuea by about $100 million, to the Legislature. According to the chief of Finance, Carlos Caceres, "we are working on the project which will, by 2020, return us to the same pre-crisis debt levels (before 2008).

Costa Rica: New Tax Reform Bill

June 2011

The governments new proposal for tax reform will mean less funds will be collected compared to the original.

In order to get approval from Congress, who since the first version of the tax reform has blocked its passing, the Executive has submitted a newer version of the bill, which provides for a number of amendments requested by the opposition.