Economy grants five years of tax exemption to Siman cooperative

The Ministry of Economy granted the Savings and Credit Cooperative Association of Almacenes Siman Personnel, Limited Liability (ASCOALSISA, de R. L.) a new five-year period of exemption from Income Tax and municipal taxes. The decision is contained in Agreement No. 676, signed on August 24, 2026, and published in the Official Gazette Volume No. 453, Number 184, on Monday, October 5, 2026, on page 6.

The scope of the exemption

The agreement grants the benefits provided for in Article 72, literals a) and c), of the General Law of Cooperative Associations, and in Article 151 of its Regulations. Specifically, it includes:

• Exemption from the payment of Income Tax, regardless of the nature of the capital with which it is formed and the interest generated, starting from the fiscal year during which the application was submitted.
• Exemption from Municipal Taxes.

The text specifies two limits: the exemptions do not extend to taxes regulated by the Law on Tax on the Transfer of Movable Property and Provision of Services nor by the Law on Real Estate Transfer Tax. Additionally, the cooperative is obliged to prove, when requested by the Ministry of Finance, the proper use of the granted privileges.

A process initiated more than a year ago

The application was submitted on September 26, 2025, by Mercedes Jazmín Montoya Rivera and continued by Rosalía Janette de Paul Berroterán, in her capacity as President of the Board of Directors and Legal Representative of the entity. The cooperative is domiciled in the District of San Salvador, Municipality of San Salvador Centro, Department of San Salvador, and is identified by Tax Identification Number 0614-281072-116-3.

The file was resolved through Resolution number 147, dated May 11, 2026, issued in accordance with the opinion of the Ministry of Finance contained in the note with reference MH.UM.DAJ/001.446/2026, dated May 5 of the same year. The legal representative accepted the terms of that resolution through a written document submitted on August 21, 2026, to the Directorate of Legal Affairs of the Ministry of Economy.

Background and validity period

The cooperative had already enjoyed these same benefits. By Executive Agreement number 1,227, dated September 18, 2017, published in the Official Gazette number 227, volume 417, on December 5, 2017, they were granted for five years, a term that expired on January 11, 2022.

The new five-year period is counted from September 26, 2025—that is, from the date the application was submitted—and not from the publication of the agreement in the official bulletin. The instrument bears the signature of the Minister of Economy, María Luisa Hayem Brevé, and registration number F50149.

Impact for partners and competition

The agreement directly benefits the saving and borrowing partners of the Almacenes Siman staff cooperative, who regain preferential tax treatment after more than three years without it. The text does not detail the amount of resources involved nor the number of associates; therefore, the concrete economic effect cannot be quantified with the published information.

On a broader level, the decision confirms that the Ministry of Economy maintains the path of Article 72 of the General Law of Cooperative Associations active to renew exemptions for entities in the sector—a mechanism that grants tax advantages over other non-cooperative financial intermediaries and which, in this case, was resolved after nearly a year of processing between the request and the signing of the agreement.

Source: Official Gazette, Volume No. 453, Number 184, dated October 5, 2026, Executive Branch Section – Economy Branch, page 6 (official reference: Agreement No. 676).