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$ 41 million are debited from the account of ISSFA and accredited to the account of the Ministry of Environment for the sale of the Samanes park

  The Ministry of Economy of Ecuador debited to the Institute of Social Security of the Armed Forces (ISSFA) 41 million dollars for the sale of the Samanes Park in February 2010 (66 lots of land sold to the Ministry of Environment), confirmed Tuesday Defense Minister Ricardo...
Posted On 11 May 2016
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Changes in the VAT refund include a weekly basis

  The last tax reform in effect begins to take shape. The return of two VAT percentage points for the use of electronic payment mechanisms will be made on a weekly basis from late May. The Internal Revenue Service (IRS) clarified the issue after the adoption of the Law for...
Posted On 11 May 2016
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Vinicio Luna will be a prosecution witness in the trial against Luis Chiriboga

  Vinicio Luna will collaborate as a prosecution witness. This was agreed by the former selection coordinator of the Ecuadorian Football Federation (FEF) with prosecutor Diana Salazar, during the hearing of summary proceedings held on Tuesday 3 May, in Quito. That day, Luna,...
Posted On 11 May 2016
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Great impact on the sale of drinks

  The National Association of Food and Beverages (Anfab) announced that the USD 0,25 increase per liter for soft drinks is the equivalent of the 44% of the selling price of the product. “This is a scenario that worries food and beverage retailers and manufacturers who...
Posted On 11 May 2016
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The price of some products of the family basket will rise with the VAT hike

  Appliances, cleaning supplies, clothing, leisure, laundry and maintenance … are some of the product groups that will be affected by the increase in the value added tax (VAT) from 12% to 14% and are part of 39 products of the basic food basket.   This increase is...
Posted On 11 May 2016
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Impeachment order for Rafael Correa after earthquake

  Several groups that refer to themselves citizens asked the Assembly to process the impeachment of President Rafael Correa for the crisis management after the earthquake of April 16. They allege an “arrogation of functions,” which is one of the grounds that the...
Posted On 11 May 2016
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Provincial associations also demand the payment for TV rights

    The public request made by soccer clubs on Sunday so that TV channels seized by the State catch up on payments for broadcast rights of Ecuadorian soccer Tuesday night joined that of the provincial associations, which are also funded from these incomes. TC Mi Canal and...
Posted On 11 May 2016
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Workers affected by inconsistencies in the Solidarity bill

  The solidarity contribution to alleviate the effects of the earthquake treats differently workers in a dependency relationship and those who are self-employed.   Section 6 of the Solidarity bill proposed after the Earthquake establishes that natural persons will pay...
Posted On 11 May 2016
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Villavicencio: “the government of Rafael Correa pays $ 350 per hour to an auditor ‘

Journalist Fernando Villavicencio, in an interview with Ecuavisa said that in 2011 he filed a complaint before the Attorney General´s office and to the present day there has been no progress. It refers to the repowering project of the Esmeraldas refinery that began with a process...
Posted On 11 May 2016
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Alarming reduction in the Ecuadorian Treasury account

  The balance stood at $ 99 million, far from the historical figure of 2,456 million in 2008. The 600 million that arrived days ago have already been consumed. Oil prices still have an impact. The National Treasury, the current account used by the government to pay its...
Posted On 11 May 2016
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