El Salvador's Agriculture and the Tax Reform
Farmers and growers have voiced their concern over the new taxes they will have to pay.
Monday, November 9, 2009
One of the most worrying topics, they argue, is the application of a 13% value added tax when importing capital goods. Although these amounts are deductible from income taxes, they have negative effects on the companies' cash flow. Additionally, value-added tax will also be applied to several export categories like coffee.
Taking Chile as an example, Salvadoran agriculture must modernize and work with a business mindset, investing in technology and innovation.
The line of credit will be designated to provide financial assistance to small and medium exporters.
The Agricultural Sector has experienced the loss of hundreds of acres of various crops, factories and company closures, and the reduction of thousands of jobs in Costa Rica.
The Panamanian Association of Business Executives points to the continuing deterioration of the agricultural sector and its consequence on the prices of staple foods.
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