El Salvador Removes Taxes on Overseas Funds

El Salvador has recently passed a significant reform aimed at enticing greater foreign investment by eliminating income taxes on funds from overseas. This move, approved by the country’s Congress, is expected to encourage more financial inflows, including remittances and investments in local businesses, by exempting them from taxation. Previously, any income exceeding $150,000 was subject to a hefty 30% tax rate upon entry into the country. Lawmaker Suecy Callejas, advocating for the reform in Congress, highlighted its goal of stimulating both domestic and international investment to drive economic growth and create more job opportunities.

Our team is always ready to provide high-quality advice and help in solving any tasks you set. Subscribe to our pages on social networks. If you have any questions, want to order services or consultations from us, then follow this link or write to us on WhatsApp/Viber/Telegram +380 98 363 6493 or call us.

Please enable JavaScript in your browser to complete this form.

Copyright ©2023 All rights reserved.