The El Salvador tax reform

El Salvador’s Congress approved on Tuesday a reform to remove income taxes previously imposed on money from abroad, in a move to attract more foreign investment.

Money flows from abroad in forms such as remittances and investments in companies will now be exempt from tax, lawmakers said.

Prior to the reform, incomes equal to or greater than $150,000 had to pay a rate of 30% at the time of entry into the country.

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