Read the untranslated law here: http://www.asamblea.gob.sv/eparlamento/indice-legislativo/buscador-de-documentos-legislativos/reformase-el-articulo-158-del-codigo-tributario/archivo_documento_legislativo
1 Decree N ° 179 the Legislative Assembly of the Republic of EL SALVADOR, considering: I.-that by Legislative Decree N ° 230, dated September 14, 2000, published in the official journal N ° 241, Tome N ° 349 of the 22nd of the same month and year, issued the tax code, which establishes that the non-domiciled individuals will be subject to withholding of income tax , at a rate of twenty per cent.
II.-that the percentage mentioned, is mayor made that are in other countries of the region, causing a disincentive to foreign investment, especially those that perform operations on the stock market, resulting in the flight of foreign capital, lower economic growth and consequently less tax revenue.
III.-that the foregoing is necessary to reform Article 158 of the tax code, reducing the percentage of the respective tax retention, in order to eliminate the asymmetries with regional capital markets and develop the stock market to attract more investment.
Therefore, use of his constitutional powers and at the initiative of the Deputy Douglas Leonardo Mejia Aviles of the legislative period 2012-2015, and the Deputy Francisco José Zablah Safie.
DECREES the following: reform to the code tax article 1.-reform the fourth subparagraph of article 158, in the following manner: "the amounts paid or credited to natural or legal persons, marriages of people, societies of fact, estates and trusts, not domiciled in the country, that may arise in respect of income and capital invested in securities yields or irregular values" ", or transactions on securities securities, shares and other investments at the El Salvador stock market, either primary or secondary, the stock exchange, subject to retaining that first regulates the subsection of this article, at a rate of three percent (3%)."
Article 2.-this Decree shall enter into force eight days after its publication in the official journal.
GIVEN in the blue room of the Legislative Palace: San Salvador, to the twelve days of the month of November in the year two thousand and fifteen.
2 GUADALUPE LORENA PEÑA MENDOZA, PRESIDENT.
GUILLERMO ANTONIO GALLEGOS NAVARRETE, ANA VILMA ALBANEZ DE ESCOBAR, SENIOR VICE PRESIDENT. SECOND VICE PRESIDENT.
JOSE SERAFIN RODRIGUEZ ORANTES, NORMAN NOEL QUIJANO GONZÁLEZ, THIRD VICE-PRESIDENT. FOURTH VICE PRESIDENT.
SANTIAGO FLORES ALFARO, FIFTH VICE PRESIDENT.
WILLIAM FRANCISCO MATA BENNETT, DAVID ERNESTO REYES MOLINA, FIRST SECRETARY. SECOND SECRETARY.
MARIO ALBERTO TENORIO GUERRERO, REYNALDO ANTONIO LOPEZ CARDOZA, THIRD SECRETARY. FOURTH SECRETARY.
JACKELINE NOEMI RIVERA AVALOS, JORGE ALBERTO ESCOBAR BERNAL, FIFTH SECRETARY. SIXTH SECRETARY.
ABILIO ORESTES RODRIGUEZ MENJIVAR, JOSE FRANCISCO MERINO LÓPEZ, SEVENTH SECRETARY. EIGHTH SECRETARY.
Presidential House: San Salvador, 24 days of the month of November in the year two thousand and fifteen.
PUBLISHED, Salvador Sanchez Ceren, President of the Republic.
Juan Ramon Carlos Enrique Caceres Chavez, Minister of finance.
3 D. o. N ° 216 volume N ° 409 date: November 24, 2015 JQ/HCP 14-12-2015 legislative index
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