After the approval of reforms to the Income Tax Law in El Salvador, international media and public figures have highlighted the historic amendments that project to boost the Salvadoran economy.
«By allowing the transfer of any amount of funds into the country from anywhere with a 0% tax, El Salvador is attracting a massive influx of capital. This change from the previous tax rate of 30% opens the doors to a large number of opportunities for both investors and tourists,” said renowned creative producer, of Salvadoran origin, Mike Angel.
For its part, the news agency, Reuters, explained how the Salvadoran nation seeks to “attract more foreign investment” with the approval of the reforms to said law, detailing that in this way the “flows of money from abroad in the form of remittances and investments will now be exempt from taxes.
I’ve just learned that El Salvador did another mic drop for their financial landscape as a game changer in the world of investments and leisure.
By allowing the transfer of any amount of funds (0.01 – ♾️) to the country from anywhere with a 0% tax, El Salvador is attracting a…
— Mike Angel 🇸🇻 (@MikeAngeles_) March 12, 2024
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