On 16 May 2014, El Salvador's Minister of Finance proposed a reform package to amend the tax law. Main changes include: The introduction of a minimum corporate income tax of 1% on the value of net assets, which is payable if higher than the income tax due based on net income in a tax period - this replaces the alternative minimum tax that was ruled unconstitutional in November 2013 The introduction of a financial transaction tax of 0.25% on bank transfers, deposits, and payments using debit/credit cards or checks The determination of market prices by taxpayers and the tax authorities...