A. M. El Salvador’s Ministry of Finance estimates a collection of US$635 million in Income Tax (ISR) for fiscal year 2024. Minister Jerson Posada highlighted that this figure represents a growth compared to previous periods, reflecting a higher contribution from taxpayers.
In addition, 25,000 additional returns are expected to be processed with respect to last year, which evidences an increase in tax formalization. The Treasury has implemented measures to facilitate the process and ensure that more citizens comply with their tax obligations.
The declaration period is already in effect and will conclude next april 30. The authorities urge taxpayers not to exceed the deadline to avoid fines and interest that may affect their financial situation.
Minister Posada emphasized that these revenues are fundamental for the country’s economic and social development, allowing investment in infrastructure, health, and education. Tax collection is key to financing government programs.
The Treasury reiterated its commitment to provide assistance to taxpayers through its digital platforms and in-person offices. The population is urged to comply with its fiscal responsibility and contribute to the country’s growth.
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