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New tax seen hitting El Salvador construction

Thursday, September 18, 2014

The latest set of fiscal reforms approved in El Salvador will hit the construction sector, rising costs of public and private projects, the Salvadoran construction chamber said.

The biggest impact will be caused by a new tax on financial transactions, affecting purchases of construction materials, the president of the chamber, Carlos Guerrero, said.

"It will drive costs up for construction materials, which constitute an important part of our spending," he added.

Source (in Spanish): La Prensa Gráfica