Salvadoran Tax Reform Now In Force

The new tax rules came into effect today, after being published in the official government newspaper.

Monday, January 4, 2010

Changes include new taxes to alcoholic beverages, tobacco, energy drinks and fuels, in addition to new taxes when registering vehicles, boats and planes, either for personal or commercial usage.

"The final draft of the law mainly affects products like tobacco and alcoholic beverages. As for the first one, 67% of its sale price will correspond to taxes... cigarettes will be charged specific taxes of around $0.02 per unit. Additionally, tobacco products will pay a 39% tax over the suggested final sale price to consumers", reported Laprensagrafica.com.



More on this topic

Guatemala: More Pressure on Tax Reform

January 2013

Business associations have submitted a constitutional complaint against the tax package approved by the government of Guatemala.

The Chamber of Commerce of Guatemala (GCC), the Chamber of Agriculture (Camagro) and the Guatemalan Association of Exporters (Agexport), have joined together in order to find a solution to the inconstitutionalities which they allege exist in the new tax rules.

El Salvador: Tax Burden to 17% by 2014

March 2011

The government's goal is to have a tax burden of 17% by 2014 through economic growth and increased taxes.

Currently, the country's tax burden (percentage of revenue compared with the Gross Domestic Product (GDP)) is 14.1%.

Finance Minister, Carlos Caceres, acknowledged the goal may seem ambitious but it is also necessary or otherwise the country has no fiscal viability.

Panamanian Tax Reform Takes Effect on July

June 2010

On July 1st 2010 the tax known as ITBMS, which taxes the transference of goods and services, will be raised to 7%.

Many sectors have argued that the two-point increase will make several basic products too expensive.

“It will have a greater effect on higher priced goods such as vehicles.

Salvadoran Legislative Passes Tax Reform Bill

December 2009

The Legislative Assembly of El Salvador passed a series of fiscal reform bills introduced by president Mauricio Funes.

The legislative body passed a bill for registration of goods, a bill imposing tax on tobacco products, another taxing sodas, juices and alcoholic beverages, plus a law changing income taxes.

 close (x)

Receive more news about Taxes

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Beverage magazine for Sale

Beverage Industry Digital Magazine established in 1942, the oldest Spanish trade journal and the only beverage trade magazine serving the Latin American beverage market.
It serves soft drink bottlers, brewers, bottled water...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Sep 17)
Brent Crude Oil
74.560
Coffee "C"
186.85
Gold
1,752
Silver
22.37