El Salvador Removes Income Taxes On Overseas Investments

On March 12, Reuters reported that El Salvador’s Congress approved a motion to remove income taxes on foreign investments.

Suecy Callejas, a lawmaker who defended the motion, said that it “aims to stimulate domestic and foreign investment to boost the economy and generate better and more employment opportunities,”

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