Main page News, El Salvador

The Legislative Assembly of El Salvador has recently approved a reform to lower the income tax on investments and remittances from abroad from 30% to 0%, with no restrictions on the amount.

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The country's president, Nayib Bukele, shared the news on X on March 12. The legislative assembly announced through another post on the social network the measure has been approved with 69 out of 84 votes, assuming there were no abstentions or absences.

The reform exempts family remittances and any foreign capital, regardless of the amount, from income tax.

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Under Bukele's leadership since his election in 2019, El Salvador has undergone significant changes, including the declaration of Bitcoin as legal tender and the purchase of 200 BTC for the country's reserves.

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