Textile Industry Hopes for Free Trade Area ReformsNew investments in the sector are pending the approval of El Salvador's new tax-free zone law.Thursday, November 3, 2011
According to the Salvadoran chamber of textile manufacturers (CAMTEX in Spanish), the reforms being considered by the government comply with all the demands made by the World Trade Organization (WTO). Source: laprensagrafica.com El Salvador: Textile Companies Oppose 5% TaxFebruary 2013 The Chamber of Textile, Clothing Companies and Free Zones states that if the new law on Free Zone included the tax, it would drive away millions of dollars in investments. El Salvador: Free Zones Law Generates ControversyOctober 2011 If a reform of the law is approved, tax exemptions enjoyed by members of the scheme would be limited. El Salvador: New Law on Free Zones DelayedAugust 2011 There is a growing demand for textiles and clothes manufacturing, but a new Law on Free Zones is needed in order to bring fresh investments to this sector. Free Zones Act Advances in El SalvadorMay 2011 Government and private company representatives have achieved an 80% consensus on the new draft law on Free Zones.
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