El Salvador's National Assembly has recently passed amendments to the country's Tourism Law to extend the tourism promotion investment incentive for five years. Under the tourist promotion regime, El Salvador provides a number of incentives for investment in new tourism projects located in specified tourist areas declared by the government. The benefits include: Corporate income tax exemption for 10 years; Import duties exemption on goods, machinery, equipment, vehicles, etc. used in the project; Exemption from real estate acquisition taxes when used for the project; and 5-year reduction of municipal tax by 50% In order to enjoy the incentives the investment...