SAN SALVADOR: El Salvador’s Congress on Thursday passed a swath of tax breaks offered to firms in exchange for investments of more than $2 billion in the country, meant to boost the small Central American nation’s economy.
Firms will be offered exemptions on taxes on investment income, real estate transfers, municipal taxes and tariffs and import taxes necessary for the investment in El Salvador, according to the bill’s text. The measure was passed with 56 votes in favor out of 60. – Reuters
