It has been announced that as of November 17th enterprises must carry out a mandatory exporter VAT self-assessment using a web platform.
The union of exporters is not entirely satisfied with this online system, stating that it has some limitations, such as only allowing "... cross matching withholding of exporter VAT with importer VAT to recover the money.
A draft Law on Trade Defence establishes mechanisms to protect and defend the industry against unfair trade practices.
The bill, prepared jointly by the private sector and the government, will be presented on Tuesday, Oct. 13 at the Legislative Assembly. The aim of the law is to regulate actions such as massive imports in some sectors that could result in unfair practices.
As of October 15 inspectors from the US Food and Drug Administration will be carrying out spot checks on exporters of food and beverages.
The Corporation of Exporters of El Salvador (Coexport) announced that the inspections will start from October 15, and companies which export food and beverages will be selected at random for visits.
"... The FDA inspects product processing, food safety and sanitary and phytosanitary regulations.
Exporters claim that the Ministry of Finance takes up to 10 months to give credit notes for tax refunds, accumulating a debt of $70 million.
To date the Ministry of Finance has issued $41 million in Treasury credit notes (NCTP) to pay off part of the debt. However, representatives from the Corporation of Exporters of El Salvador (Coexport) state that this type of payment represents a loss for exporters, as NCTP's can be sold but wat a discount of up to 5%.