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Foreign travel advice Indonesia
FCDO advises against all travel to parts of Indonesia.
Foreign travel advice Romania
Warnings and insurance Still current at: 24 April 2024 Updated: 23 April 2024 Latest update: Information related to drug offences and Romanian music festivals (under 'Laws and cultural differences' subheading on the 'Safety and security' page).
Foreign travel advice The Gambia
Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Ferry services between Banjul and Barra have been suspended until further notice; The Islamic Summit of the OIC (Organisation of Islamic Cooperation) will be held in Banjul on 4-5 May; road closures and delays at Banjul International Airport ('Safety and security' page).
Foreign travel advice China
Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Updated information on flooding (‘Safety and security’ page).
Guidance Living in South Korea
Information for British citizens moving to or living in South Korea, including guidance on residency, healthcare, driving and more.
El Salvador’s New Tax Will Affect Large Companies
A new tax directed to companies was approved late last month by the Congress of El Salvador. The “Special Contribution to Large Tax Payers” taxes a 5% rate over the net profit of large-sized enterprises.
On 29 October the Congress of El Salvador approved a new 5% tax for companies, domiciled or not, that obtained a net profit above or equal to US$500,000. This tax – and another one of 5% also directed to telecommunications industry– is intended to raise funds for the improvement of domestic security.
This law on high taxpayers does not include exemptions so companies granted tax benefits such as the Free Trade Zone law will still have to pay tax on profits above the threshold. The tax applies to legal entities, unions of persons and irregular or ‘de facto’ companies. It does not affect individuals.
When entering a new market, companies must ensure a complete understanding of local laws and regulations - otherwise they could face risks to their reputation, fiscal penalties, loss of business opportunities and legal action. TMF Group helps companies keep compliant with local regulations and filings and set up in El Salvador with speed, safety and efficiency.