Salvadoran Government Without funds for Income Tax Returns

The head of the ministry of Finance confirmed that there are still more than $30 million worth of outstanding income tax returns for the fiscal year 2011.

Thursday, August 16, 2012

Carlos Caceres, the Finance Minister said that it is expected that this month refunds of amounts less than $500 will be made, which amounts to around $15 million.

"In mid-April, the Foreign Office minister said in May payments would be made representing the delivery of funds to Salvadorans with a return less than $200 who had filed their returns in January and February. Taxpayers, via social networks on elsalvador.com, criticized the default", published Elsalvador.com

More on this topic

Tax Increase for Gas Stations

March 2012

The government of El Salvador is studying a proposal to change taxes for owners of gas stations, in light of the sector’s negative reaction to the latest tax reforms.

The current proposal is to exempt them from the tax of 1% of total sales tax in exchange for paying 30% of profits.

Salvadoran Executive Presents Proposal for Tax Reform

November 2011

The proposed amendment to Income Tax introduced in Congress establishes changes to the tax rates.

The draft reform, that differs from that presented by the FMLN, raises the ceiling on maximum retention to 30% and establishes a new calculation table.

"The first of two major reforms presented by the Executive through the Ministry of Finance is to employed persons who take home up to $ 9.100 per year, who "will not be required to submit payment (income statements) and are entitled to a flat deduction of $1,600. in this way, it goes up, taxpayers with a retained amount greater than that mentioned above will not be entitled to the deduction of $1,600 which includes the cost of health and education", reported Laprensagrafica.com.

Salvadoran Businessmen Opposed to Income Tax Reform

December 2011

The National Association of Private Enterprise has rejected the government's proposal to increase income tax from 25% to 30%.

INCOME TAX: ONE NEW TAX TO SOLVE THE PROBLEM OF EXCESSIVE SPENDING, by ANEP

Given the government's proposal to amend the Law on Income Tax, ANEP states:

Guatemala Puts Finishing Touches on Tax Reform

January 2012

Among other measures, the bill proposed by the government examines establishing regimes for income tax and eliminating accreditation for VAT returns, a method that has encouraged evasion.

The new Guatemalan government has refined its proposed fiscal law reform, which includes proposals such as removing the accreditation of the VAT tax and setting different levels for the deduction of income tax.

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