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El Salvador fiscal reform: ‘smoke and mirrors’

Friday, December 2, 2011

Business leaders in El Salvador accused the government of using smoke and mirrors to bamboozle people with its fiscal reform.

They say that the proposal will make people happy who earn less than $388 a month, because they will pay no tax at all under the plan. But other wage-earners and companies will have to pay more, the business leaders say.

Companies will refrain from investing in El Salvador because of the size of the tax bills they face under the plan.

Original source (in Spanish): El Diario de Hoy