Reforms to Salvadoran Tourism Law Due in 2011

The reform plan reduces the minimum amount of investment required to access government incentives.

Monday, November 29, 2010

The proposed amendment is to reduce to $ 25,000 the investment in tourism to access tax incentives. Currently the amount is $ 50,000.

This reform (which amends Article 36 of the Tourism Law) "seeks to be extended for only two years and sets a deadline of December 30 to deliver to the Legislative Assembly for discussion and subsequent approval," reports Laprensagrafica.com article.



More on this topic

Tourism: Investment Falls and Incentives are Reduced

May 2019

In the context of a considerable fall in foreign investment in the sector in Costa Rica, the situation could be further complicated by the elimination of tax incentives that tax reform is bringing along.

Figures from the Central Bank of Costa Rica (BCCR) detail that after reporting $443 million in foreign direct investment in tourism in 2017, this figure decreased dramatically last year, registering only $23 million.

Reforms to Tourism Incentives Act in Nicaragua

October 2013

The current law provides a number of incentives for tourism but does not include some segments such as medical tourism and residential real estate for foreigners.

Two years ago the private sector promoted a law reform but it was not successful, which is why the Government is now taking up the issue again after an analysis of the current situation of the sector.

Nicaragua: Changes to Tourism Incentives Law

October 2010

The draft amendments to the Law which could be approved before the end of the year, would generate increased investment in the sector.

The proposal provides a reduction to $ 10 thousand minimum investment in order to receive tax benefits and a reduction of between 25 to 30% in electricity rates and drinking water.

Tourism Law Generates $51 Million Investments

July 2009

Between January and May, tourism investment in Nicaragua was 5 times higher than the same period of 2008.

Attracted by the benefits obtained through Law 306, also known as Stimulus Law for the Tourism Industry, 10 new projects where approved so far in 2009, 6 of them are hotels.

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