reforms tax reform Taxes taxes Government Salvadorean Association of Private Enterprise (El Salvador) Value Added Tax (VAT) income tax Asamblea Legislativa (Costa Rica) Increased taxes new tax Asamblea Nacional de Panamá Carlos Cáceres Constitutional Chamber of the Supreme Court of Costa Rica Costa Rica Congress

Machinery Imports Would Be Taxed

If the tax reform proposed by the Salvadoran government is enacted, machinery imports would pay 13% value added tax.

Monday, October 19, 2009

©image: Simon Blackley

Additionally, expenditure reimbursements and tips would pay value added tax.

Economist Luis Membreño told newspaper Prensagrafica.com: "This, in addition to the elimination of the 'drawback' benefit, does not foster investment nor job generation. It is a new tax increasing companies' cost at a time when we need more industrial reconversion and investment".

Source: laprensagrafica.com

Key entities

Salvadorean Association of Private Enterprise (El Salvador) Luis Membreño

Countries

El Salvador

Insight

imports tax exemptions taxes Value Added Tax (VAT) tax reform reforms machinery Taxes Government

New in Costa Rica: Value Added Tax

March 2012

The tax reform, recently approved on its first reading, introduces Value Added Tax (or IVA in Spanish) to replace the existing Sales Tax (IV in Spanish).

An article by Carlos Cordero in Elfinancierocr.com, has the professional technical support of Mario Hidalgo, a tax partner at Deloitte.

Honduras Removes Sales Tax Exemptions

April 2010

Businessmen stated their concern as supplies used in producing basic goods will no longer be exempt from paying sales taxes.

The initiative, called “Tasa Cero” (Zero Rate), implies an automatic cost increase for companies, which will be transferred to consumers.

The measure will contribute the largest share to the government’s tax collection target of an additional $265 million, said analysts.

Value-Added Tax in Costa Rica

August 2010

Inevitable fiscal reform will include the implementation of a value-added tax (VAT), which is basically an extension of the existing Sales Tax.

While a sales tax is only on transfers of merchandise and certain kinds of service, VAT is a generic consumption tax on the sale of all goods and services. Usually exemptions and reduced rates are defined for goods and services that form part of the so-called basic shopping basket.

Guatemala: VAT on Buying Second Home Purchases

January 2012

A proposal has been made to remove the Value Added Tax on transactions performed in the housing market.

To date, those buying a "used" home pay 12% in tax, which has discouraged the purchase and / or registration of properties. The issue is not trivial, given the shortage of 1.2 million housing units in Guatemala.

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