El Salvador's Ministry of Finance has issued guidance on new requirements for an ad valorem tax on insurance companies (Impuesto Ad Valorem Compañías de Seguros - IACS). Key points include:
- The requirements generally apply for all types of insurance policies contracted (sold) in El Salvador, as well as the extension, renewal, or modification of insurance policies, including life insurance, accident and illness insurance, car insurance, home insurance, specific damage insurance, and others; …