VATupdate
El Salvador

Share this post on

The Legislative Assembly imposes new obligations to mandatory and optional invoice recipient data

  • Mandatory Information for Specific Transactions: Recipient details are required for transactions of USD 25,000 or more, when documentation is needed by the customer, or when the invoice is used for deductible expenses.
  • Identification Requirements: For applicable transactions, the recipient’s name and an identification number (e.g., Tax ID, passport) must be included; legal entities require the denomination or company name regardless of the amount.
  • Penalties and Timeline: Non-compliance results in a fine of 30% of the transaction or a minimum of two monthly salaries, effective from 27 September 2024.

Source Orbitax

Sponsors:

Pincvision
VAT news
VATIT Compliance

Advertisements:

  • Pincvision