#CostaRica 🇨🇷 #BDS_LaborAlert: New Income Tax Brackets and Tax Credits to Take Effect on January 1, 2025
In accordance with Decree No. 44772-H, published in Item No. 195 to Official Gazette No. 227 on...
Dec 3, 2024 12:58:14 PM
#ElSalvador 🇸🇻 #BDS_LaborAlert: Tax Exemption for Christmas Bonuses Up to $1,500
The Legislative Assembly has approved a measure exempting Christmas bonuses (aguinaldos) of up to $1,500 from taxes. This initiative is expected to benefit approximately 700,000 workers in both the public and private sectors, providing economic relief for households.
However, employees who receive Christmas bonuses exceeding $1,500 will be required to pay taxes on the amount exceeding this threshold. This measure also accounts for cases where the Christmas bonus surpasses the limit by just a few cents.
Finally, it is important to note that the statutory deadline for the payment of Christmas bonuses in El Salvador is between December 12 and December 20.
If you have any additional questions regarding this matter, please contact us.