TAXATION INDIVIDUAL

 

El-Salvador holiday homes.

Residents are only taxed on their income from El Salvador. Married couples are separately assessed and taxed.  qatar property

TAX INCOME (Impuesto Sobre la Renta)

Income is not classified into different categories. Revenue from all sources is aggregated and gradually taxed.

UNER TAX INCOMEnTAXED TAX RATE, (US$)

Up to $5,664.00 Up to 0%

US$5,664.00 - US$10,742.86 10% of US$5,664.00 on the band

USD 10,742.86 – USD 24,457.14 20% over US$ 10,742,86% on band.

More than US$24,457.14 30% of all income above US$24,457.14

Source: Guide to Global Property

MONTHLY TAX INCOMnnTAXED TAX RATE, (US$)

Up to 472.00 USD 0%

US$472.00 – US$895.24 10 percent over US$472.00 on band

US$895.24 - US$2.038.10 20% over US$895.24 on a band

About US$2,038.10 30% of all revenue above US$2,038.10

Source: Guide to Global Property

For individuals, taxable income (gross revenue less revenue-generating expenses) shall be calculated as net income less certain deductions. The following allowances and deductions are granted to residents:

US$1,371.43 personal allowance for residents whose only income shall be salaries not exceeding US$5,714.29

Medical expenses to a maximum of US$800 from a taxpayer, his spouse, parents and employees shall be covered by insurance

Education costs for the taxpayer and his children under the age of 25 up to US$800.

Contributions to social security

RENTAL COMMISSION

Rental income at standard income tax rates is considered ordinary and taxed. Revenue generating expenses are deductible when the taxable income is computed.

CAPITAL TAX Winners

Capital gains are subject to a flat rate of 10% capital gains tax. In the calculation of taxable profits, the basic asset costs, improved ownership costs and transaction costs are deductible.

VALUE ADDED TAX Tax on the transfer of furniture goods and on the provision of services)

Value added tax (VAT) charged for the transmission, import and consumption of goods and services of 13 percent, including the leasing of property used for commercial or industrial purposes. Leasing residential property is not liable for this tax unless it is effectively connected with a company.

TAX PROPERTY

In El Salvador there are no property taxes.

TAXATION COPORATE TAX INCOME

Companies' revenue and capital gains are generally taxed at 30 percent corporate income tax rate. Companies with revenues below US$150,000 are subject to a 25% corporate income tax rate. Revenue generating expenses shall be deductible when the taxable income is calculated.

CAPITAL TAX Winners

Capital gains are subject to a flat rate of 10% capital gains tax. In the calculation of taxable profits, the basic asset costs, improved ownership costs and transaction costs are deductible.