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Companies in El Salvador want clarification on taxes for black economy

Tuesday, August 17, 2010

The El Salvador Chamber of Commerce and Industry is seeking consultation on two new taxes proposed in a tax simplification bill aimed at the black economy.

Small traders are to be brought into the tax net with a special micro-tax (REMI), to be collected by regional authorities and mono-tax or monotributario (REM) aimed at the black economy.

The two taxes would be applied to small traders in the place of VAT and income tax, but traders would have the option to pay normal taxes instead.

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