Reformed Budget Law, In Part To The Bouquet Of Matching Education To Mainstream $ 2,928.471.00.

Original Language Title: REFÓRMASE LA LEY DE PRESUPUESTO, EN LA PARTE QUE CORRESPONDE AL RAMO DE EDUCACIÓN, PARA INCORPORAR $2,928.471.00.

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LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR ____________________________________________________________________

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DECREE NO 876

THE LEGISLATIVE ASSEMBLY OF THE REPUBLIC OF EL SALVADOR,

WHEREAS:

I.-That by Legislative Decree No. 764 dated July 31, 2014, published in Official Journal No. 142, Volume No. 404 of the same date, the Financial Operations Tax Law was issued for the purpose of establish a tax that will fall on the value paid of any type of check and transfers electronic circulation in the national territory, in currency of legal circulation in the country and that will allow the generation of a tax collection in a systemic way, with lower costs to the economic agents, contributing to the balance of the State finances by way of public revenue.

II.-That Art. 6 of the Law in reference establishes that they are responsible for the payment of the tax, in quality of agents of retention, the entities of the Financial System, those that execute payment orders or transfers by any means or technological means, the Houses of Brokers, in the case of securities transactions in third-party transactions, the Stock Exchange, in the case of Intermediation of Products and Services, as well as those designated by the Tax Administration; all of which they are obliged to retain the tax regulated by that Law and which, according to Art. 8, will have a taxable amount to be determined by applying an aliquot of 0.25% equivalent to 2.5 per thousand, on the amount of transactions or transactions taxed, superior to US$ 1,000.00.

III.-That the application of the Law on the Tax on Financial Operations has generated additional revenues to the Fisco during the present Fiscal Year 2014, which were not considered in the current Budget Law, so, by Legislative Decree No 799 dated 11 September 2014, published in Official Journal No 174, Volume N ° 404, of the 22nd of the same month and year, were incorporated in the current budget, resources worth SEVENTEEN MILLION DOLLARS OF THE UNITED STATES OF AMERICA (US$ 17,000,000.00), of which TWELVE MILLION DOLLARS UNITED STATES OF AMERICA (US$ 12,000,000.00) were destined to cover the organization and development of the elections of Deputies and Members of the Central American Parliament for the period 2016-2021; and that of Deputies and Members of the Assembly Legislative and the members and members of the Municipal Councils for the period 2015 -2018; likewise, a FIVE MILLION U.S. DOLLARS OF AMERICA (US$5,000,000.00) was allocated for the strengthening of security actions. In the case of prevention and reintegration, the fight against crime, the administration of penal centers and the implementation of the National Board of Directors of Goods (CONAB).

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IV.-That the application of that Law continues to generate additional resources that are not included In addition, to date, there is an unavoidable and unavoidable demand from the University of El Salvador to cover the deficit in the payment of salaries for the remainder of this Fiscal Year 2014, in the amount of DOS MILLIONS NINE HUNDRED AND TWENTY-EIGHT THOUSAND FOUR HUNDRED AND SEVENTY-ONE HUNDRED DOLLARS FROM THE STATES UNITED OF AMERICA (US$2,928,471.00), which, due to the difficult situation of public finances, has no budgetary allocation and can be addressed with the resources in mention.

V.-What to give budgetary coverage to the Additional revenue and the demand referred to above, it is essential to amend the existing Budget Law, voted by Legislative Decree No. 522 dated 31 October 2013, published in Official Journal No 225, Volume 2 of 2 December of the same year, in order to incorporate in Section II-Revenue, the quantity of TWO MILLIONS NINE HUNDRED AND TWENTY-EIGHT THOUSAND FOUR HUNDRED AND SEVENTY-ONE HUNDRED DOLLARS FROM THE UNITED STATES OF AMERICA (US$2,928,471.00); and in Section III-EXPENSES, the part corresponding to the Master of Education is increased with the amount of two HUNDRED MILLION TWENTY-EIGHT THOUSAND FOUR HUNDRED AND SEVENTY-ONE HUNDRED DOLLARS FROM THE UNITED STATES OF AMERICA (US$2,928,471.00); likewise, in Section B-SPECIAL BUDGETS, B. 1 DECENTRALIZED NON-BUSINESS INSTITUTIONS, the Special Budget of the University of El Salvador, with the same value.

BY TANTO,

in use of their Constitutional powers and at the initiative of the President of the Republic, through the Minister of Finance.

DECCRETA:

Art. 1.-In the current Budget Law, Section -A GENERAL BUDGET OF THE STATE, the following modifications are introduced:

A) In Section II-REVENUE, Rubro 11 TAXES, Account 116 Miscellaneous Taxes, Increase the Specific Source 11604 Tax on Financial Operations, with the amount of US$ 2,928,471.

B) In section III-EXPENSES, in the part corresponding to the Master of Education, Literal B. Allocation of Resources, number 4 Budget allocation by Rubro of Grouping, Source of Financing and Economic Destination, increases the next Budget Unit:

4. Budget Allocation by Grouping, Financing Source and Economic Destination, increases the amount per Pool Rubro, as follows:

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LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR ____________________________________________________________________

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Budget Unit and Budget Encryption 56

Transfers Streams

Current Expenses

07 Support to Adscribe Institutions and Other Entities

2014-3100-3-07-01-21-1 General Fund El Salvador University Fund

2,928,471

2,928,471

2,928,471

2,928,471

Total 2,928,471 2,928,471

C) In SECTION B. SPECIAL BUDGETS, B. 1- Non-Business Decentralized Institutions, increase the specific source of income and expense allocations indicated, with the following amounts:

3101 UNIVERSITY OF EL SALVADOR

REVENUE

Current Revenue

16 Current Transfers

162 Public Sector Current Transfers

1623100 Education Ramo 2.928.471

EGRESOS

4. Budget Allocation by Pool, Financing Source and Economic Destination:

Budget Unit and Budget Encryption 51

Remuneration Current Expenses

01 Address and Administration Institutional

2014-3101-3-01-01-21-1-1 General Fund Senior Management

2,928,471

2,928,471

2,928,471

2,928,471

Total 2,928,471 2,928,471

Art. 2. This Decree shall enter into force from the day of its publication in the Official Journal.

GIVEN IN THE BLUE HALL OF THE LEGISLATIVE PALACE: San Salvador, at the twenty-seventh day of November of the year two thousand fourteen.

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OTHON SIGFRIDO REYES MORALES, PRESIDENT.

ENRIQUE ALBERTO LUIS VALDEZ SOTO, GUILLERMO ANTONIO GALLEGOS NAVARRETE, FIRST VICE PRESIDENT. SECOND VICE-PRESIDENT.

JOSÉ FRANCISCO MERINO LÓPEZ, LORENA GUADALUPE PEÑA MENDOZA, THIRD VICE PRESIDENT. FOURTH VICE-PRESIDENT.

CARLOS ARMANDO REYES RAMOS, FIFTH VICE PRESIDENT.

GUILLERMO FRANCISCO MATA BENNETT, MANUEL VICENTE MENJÍVAR ESQUIVEL, FIRST SECRETARY. SECOND SECRETARY.

SANDRA MARLENE SALGADO GARCÍA, JOSÉ RAFAEL MACHUCA ZELAYA, THIRD SECRETARY. FOURTH SECRETARY.

IRMA LOURDES PALACIOS VÁSQUEZ, ERNESTO ANTONIO ANGULO MILLA, FIFTH SECRETARY. SIXTH SECRETARY.

FRANCISCO JOSE ZABLAH SAFIE, JOSE SERAFIN ORANTES RODRIGUEZ, SEVENTH SECRETARY. EIGHTH SECRETARY.

CASA PRESIDENTIAL: San Salvador, four days of the month of December of the year two thousand fourteen.

PUBESQUIESE,

Salvador Sánchez Cerén, President of the Republic.

Juan Ramón Carlos Enrique Cáceres Chávez, Minister of Hacienda.

D. O. 227 Volume No. 405 Date: December 4, 2014

JQ/geg 08-01-2015

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