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.
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 proposed amendment to Income Tax introduced in Congress establishes changes to the tax rates.
The National Association of Private Enterprise has rejected the government's proposal to increase income tax from 25% to 30%.
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.
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