El Salvador signs anti-fraud agreement with Spain
El Salvador has signed an agreement with Spain that's aimed at avoiding double taxation and preventing tax fraud.
Friday, July 11, 2008
"The agreement is a tool that will encourage investments and trade between our countries," said El Salvador's Vice President, Ana Vilma de Escobar.
Mario Brol Samayoa has been convicted of money laundering, tax fraud, special case of tax fraud and customs fraud.
Treasury data shows that in respect to income tax on legal persons, there was a 70% shortfall on potential revenue, representing 4.23% of GDP.
In the view of the private sector the decision taken by President Perez Molina to remain in his position contributes to the further deterioration of the country's image, at a time when the economy is showing signs of stability.
A bill to improve the fight against tax fraud authorizes the tax authorities to seize the assets and bank accounts of delinquent taxpayers, without a warrant from a judge.
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