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El Salvador plans 30 percent company tax hike

Wednesday, November 30, 2011

The government of El Salvador plans to increase taxes on companies’ net income by 25 to 30 percent, and aims to change the rates imposed on individuals.

The plan has been sharply criticized by the Chamber of Commerce and Industry and by the National Association of Private Enterprise. They accuse the government of squandering its resources.

The decree, which is to be published today in the Congress, will tax individuals who earn more than $4,000.

Original source (in Spanish): El Diario de Hoy