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On, the Legislative Assembly of El Salvador passed an amendment to the Income Tax Law (LISR), significantly impacting the taxation of income earned abroad. Here’s a El Salvador's Congress approved on Tuesday a reform to remove income taxes previously imposed on money from abroad, in a move to attract more foreign investment. On, the Legislative Assembly approved an initiative to reform the Income Tax Law that excludes from the concept of income any passive income that entities and individuals in El El Salvador eliminates income tax on all capital coming from abroad. The decision was ratified by the Congress with an overwhelming majority, voting 69 to zero to slash the income tax rate El Salvador slashes income tax on international investments and money transfers from 30% to 0%, aiming to attract foreign capital. Money flows from abroad in forms such as remittances and investments in companies will now be exempt from tax, lawmakers said. Prior to the reform, incomes equal to The Legislative Assembly of El Salvador has approved a measure to reduce the income tax on foreign investments and remittances from 30% to 0% with no effective limits El Salvador, the nation led by bitcoin-friendly President Nayib Bukele, has eliminated income tax on money coming into the country from abroad. Congress has

El Salvador Drops Income Taxes on Foreign Money: A Bold Move for Investment

El Salvador is making waves in the global financial landscape! Congress has overwhelmingly ratified a groundbreaking decision to eliminate income tax on all capital coming from abroad. This move, spearheaded by the Legislative Assembly of El Salvador, aims to attract significant foreign investment and stimulate economic growth.

Zero Income Tax on International Investments and Remittances

El Salvador slashes income tax on international investments and money transfers from a previous rate of 30% all the way down to 0%! This dramatic reduction, approved by Congress with a decisive 69 to zero vote, signals a clear commitment to attracting foreign capital. Money flows from abroad, including remittances and investments in companies, will now be entirely exempt from income tax, according to lawmakers.

Understanding the Income Tax Law Reform

The Legislative Assembly of El Salvador passed an amendment to the Income Tax Law (LISR), significantly impacting the taxation of income earned abroad. Here’s a breakdown: El Salvador's Congress approved on Tuesday a reform to remove income taxes previously imposed on money from abroad, in a move designed to boost its economy.

No More Tax on Passive Income

The Legislative Assembly approved an initiative to reform the Income Tax Law that excludes from the concept of income any passive income that entities and individuals generate abroad. This change simplifies tax obligations and makes El Salvador a more attractive destination for international funds.

Unlimited Tax Exemption

The Legislative Assembly of El Salvador has approved a measure to reduce the income tax on foreign investments and remittances from 30% to 0% with no effective limits. This unprecedented offer provides a significant advantage for investors and individuals looking to send money to El Salvador.

Bukele's Bitcoin-Friendly Nation Attracts Global Attention

El Salvador, the nation led by bitcoin-friendly President Nayib Bukele, has eliminated income tax on money coming into the country from abroad. This bold decision reinforces El Salvador's reputation as a forward-thinking nation embracing innovative financial strategies. Prior to the reform, incomes equal to a certain threshold were subject to taxation. Now, that's a thing of the past!

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