EL Salvador Removes Foreign Investments, Remittances Income Tax

El Salvador’s President Nayib Bukele said congress reformed the country’s income tax to reduce its rate to 0% from 30% to international investments and remittances, according to a post on X late Tuesday.

• Decision was approved with 69 votes in favor, according to a separate post from congress
• Income tax is eliminated “regardless of the amount” for these types of transactions: Congress

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