Ecuadorian businessmen analyze impact of the project on inheritance

Business sectors review the effects of the the draft Organic Law to prevent the evasion of income tax on inheritances, Legacies and Donations. Last Friday, the government submitted the bill to the Assembly, which consists of two sections and a transitional provision.   This...
Posted On 26 Oct 2015
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Cafiesa president believes that subsidy removal will not affect the industry

Jose Carvajal, president of the Cafiesa company said that there will not be a great affectation for industries by the withdrawal of fuel subsidy, if the electricity is cheaper. “That is cyclical, large companies accumulate the product while prices fall and then go up, as...
Posted On 26 Oct 2015
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40 legislators will benefit from indefinite reelection

About 40 legislators on their second term in the National Assembly will be direct beneficiaries of the constitutional amendment that allows elected officials to run without limits. The objective of the final Magna Carta was a political renewal every eight years, not only in the...
Posted On 26 Oct 2015
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Alberto Dahik: “Oil is not the cause of the crisis, but public spending”

Former Vice President Alberto Dahik attributed the crisis in the Ecuadorian economy to the economic model and the pressure on public spending. While he said that low oil prices is the trigger for the deep crisis we are living, along with a set of measures such as 5% tax, the lack...
Posted On 26 Oct 2015
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The oil in the Yasuni park loses its appeal

Expectations for oil exploration in Yasuní have faded due to falling oil prices. The four-year program of the Ministry of Finance put its hope in the exploitation of the Tiputini and Tambococha blocks in the medium term. By 2017, the document states that the total production of...
Posted On 26 Oct 2015
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Microtrafficking launders money in hotels, restaurants, bars …

  In two hours microtraffickers can sell up to 200 doses of marijuana and cocaine. That money means a minimum gain of USD 400 for mafias. But the sale of alkaloids is only one task of these bands. The other is to launder the illegal money obtained in such operations.  ...
Posted On 26 Oct 2015
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Cynthia Viteri talks about her bill to reform the Law of Communication

  Last Thursday, Cynthia Viteri, Assemblyman of the Madera de Guerrero party, presented a “complement” to her draft amendment to the Communications Act to remove part of section 64, on fines in case of recidivism of an offense.   In an interview with El...
Posted On 26 Oct 2015
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 Investigation on the purchase of Dhruv helicopters has taken five years

The investigation into the acquisition of seven Dhruv helicopters still remains in preliminary investigation at the Prosecution, as confirmed by the institution. Former legislator Fausto Cobo filed five years and ten months ago a complaint at the prosecution against the former...
Posted On 26 Oct 2015
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Eastern Europe keeps banana producers on tenterhooks

  For Ecuadorian banana producers losing the Russian, Eastern European and Chinesemarkerts, is losing the most important buyers the country has.   The crisis Russia is going through would be one of the main causes. “Russia will experience negative growth next year 2016 and...
Posted On 26 Oct 2015
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IRS requests ‘specific information’ of shareholders

  The collections have always had the Value Added Tax (VAT) as the protagonist. That additional 12% is paid on the price of all goods taxed -such as a soda, a refrigerator or even a car- something that last year meant the half (49.2%) of what the Internal Revenue Service...
Posted On 26 Oct 2015
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