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El Salvador Approves New Taxes To Fund Domestic Security

by Mike Godfrey, Tax-News.com, Washington

05 November 2015


El Salvador's Congress on October 29, 2015, approved two new taxes intended to raise funds for the improvement of domestic security.

Under the proposals, companies with profits of over USD500,000 will be subject to an additional five percent tax. In addition, a five percent tax will be levied on phone and internet services for five years.

President Salvador Sánchez Cerén welcomed Congress's approval of the proposed taxes. He said that all sectors of society should contribute to national security.

TAGS: tax | business | corporation tax | internet | tax rates | tax reform | telecoms | El Salvador | services

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