A more real advance on income tax

In an interview published by daily Expreso, Eduardo Egas, Minister of Industry and Productivity, answers some questions about the economy. Incentives Taxation “The government has decided to eliminate the payment of the income tax (IR) for companies with production problems....

Oil crisis influences the increase of the interest rate to 17.3%

The impact of the 7,000 million less in the economy by the fall in oil prices would affect the financial sector. Authorities do not rule out a further increase in interest rates for consumer loans if the macroeconomic scenario does not change. In late October the Board of...

Growth figure in Ecuador fell at 3.8% in 2014

Ecuador’s economy would have grown around 3.8% in 2014, below the government’s target, which could also revise downwards its forecast for this 2015 due to falling oil prices, said Minister of Economic Policy Patricio Rivera. The authorities had expected a growth of...

Experts predict oil recovery for the second half of 2015

The world oil markets are mired in uncertainty at the abrupt collapse of the “petro prices.” Analysts agree that precipitation is due to a strong excess of supply over the weakened global demand. Too much oil and OPEC does not react, “said analyst Ehsan Ul-Haq...

Fall in oil prices, will not affect the economy of Guayaquil, according to Mayor

The Mayor of Guayaquil, Jaime Nebot, clarified on January 6 that the city will not suffer due to the drop in international oil prices. The reason, according to him, there is sufficient liquidity and a healthy economy in the Municipality. Nebot highlighted the austere city...

Possible ICE increase for luxury vehicles

The Finance Minister Fausto Herrera notified a possible increase of ICE for luxury vehicles, during the presentation of the Budget assignments for 2015. According to the Internal Revenue Service (SRI by its Spanish acronym), at present, this tax is applied to vehicles with a...
Posted On 07 Nov 2014

Tame restricts the sale of tickets in and out of Venezuela

The Ecuadorian airline Tame limited the sale of its ait tickets with destination to and from Venezuela. The head of the company, Fernando Guerrero, said that the state company has sold tickets just for November and December “until the debt is settled with the Venezuelan...
Posted On 05 Nov 2014

National manufacture and sale of toys emerges

The Christmas spirit is on and with it, the factories begin to hire more staff and accelerate their machines to deliver thousands of toys, as every year, line the hangers of stores as Mi Juguetería (My Toy Store in Spanish) of El Rosado Corporation, Juguetón (Playful by its...
Posted On 04 Nov 2014