New Tax Law Amendment in El Salvador Boosts Foreign Investments.

Towards fostering economic growth, the Salvadoran Congress approved a modification to tax legislation yesterday, exempting funds entering the country as family remittances or any capital originating from abroad intended for initiating businesses or bolstering existing enterprises from income tax.

With 69 votes in favor and five abstentions, lawmakers endorsed the pertinent reforms to the income tax law, ensuring that all capital flowing into El Salvador, regardless of the amount, would be exempt from taxation. The objective behind this amendment is to incentivize foreign investments in the nation.