A street in the historic district of San Salvador yesterday. / Emerson Del Cid
The proposed law on the establishment of the Planning Authority of the Historic Area of San Salvador (APLAN) considers tax incentives for investments developing that part of the territory, including a 10-year income tax exemption.
The bill states that investments in commercial and tourism activities are eligible for tax incentives such as food, accommodation, recreation, information and transport, parking development, real estate and housing development. In addition, cultural activities and the restoration, preservation, and regeneration of real estate in the area.
To benefit, the natural or legal person must make the investment within ten years.
The initiative excludes from the incentives “private investment generated in all historic buildings of the country”, which can be understood as the National Palace and the National Theatre.
This new authority (in the historic center) will be responsible for developing activities in the area and providing permits to secure property. New Ideas Deputy Director Suecy Callejas
the size of the property.
The bill details exemptions from paying “rent,” known as investments in the construction, alteration, improvement, expansion, recovery and preservation of real estate.
For this, a minimum amount of $1,000 per square meter for investment in properties of at least 25 square meters is set. Spaces less than 25 square meters require a minimum investment of $25,000. Documents defined by regulations must be met in order to apply for the above benefits.
The bill was introduced to the Legislative Assembly on March 6 by the Minister of Tourism and Culture and the Mayor of San Salvador, who sought incentives to attract investment and economic, tourism and cultural development to the historic center of San Salvador. guaranteed to be given. Salvador.
“We will provide incentives to all companies that want to participate in this project, work differently, reduce bureaucracy, create conditions for those who want to be there to invest, and invest in the place. It’s a good way,” Mayor Mario Durand said.
In addition to this exemption, recognition of 150% of deductible expenses for income tax is proposed after assessment by a “duly authorized” professional.
It applies to any natural or legal person. Donation of real property, or construction, reconstruction, restoration, maintenance, lighting or improvement of parks, green spaces, churches or other places “for public use and purposes”meet the requirements related to cultural heritage.
With the law on the creation of the authority of the historic center of San Salvador, we develop culture, tourism and economy. ” Mario Duran Mayor of San Salvador
The San Salvador Historic District Planning Authority can also issue recommendations to investors requesting partial exemptions from local taxes for up to five years. It is submitted for approval by the San Salvador City Council. Specification.
The APLAN Authority will be established as a decentralized public law body “having autonomy in the management of its assets and in the exercise of its functions”. Its administrative scope will be a demarcated area in the historic center of San Salvador.
The Board of Directors consists of the President appointed by the President of the Republic and three Directors appointed by the Ministry of Tourism, the Ministry of Culture and the Office of the Mayor of San Salvador for five-year terms.
The draft law on the creation of the Authority provides that the regulation will come into force within 30 days after publication in the Official Gazette.
3 facts you should know
It certifies, approves, and supervises restoration, restoration, maintenance, economic-social and urban development projects and works.
Authorities should coordinate actions with other ministries, the San Salvador mayor’s office, or other relevant agencies.
3.- Single window
On the environment, housing, public works, interiors, culture, ANDA, ASA, tourism, CNR and proceedings with the mayor’s office of the capital.
Source: Diario Elmundo