El Salvador Provides Income Tax Exemption for Foreign Investment in the Country

El Salvador's Legislative Assembly has announced approved reforms to the Income Tax Law to provide an income tax exemption on foreign investment into the country. As separately announced by President Nayib Bukele via X (formerly Twitter), the reform has reduced the tax rate for foreign investments and money transfers from 30% to 0%. Previously, amounts equal to or greater than USD 150,000 were subject to the 30% tax rate at the time of entry into the country. Further details on the income t…