Tributary Reform Could Bring Risks According the Chamber of Commerce

Economic and Tributary Commission of the Assembly

The first debate of the Project of Re-Distribution Social Expense Bill will be carried out on November 8, in the Main Assembly. According with the scheduled periods by the Economic and Tributary Commission of the Assembly, the report of the first debate would be ready for the upcoming Thursday 01 November.

The second report would be prepared for November 14 and the second debate would be performed on November 20. The president of the Commission, Paco Velasco, invited the Association of Private Banks to talk on Wednesday 31 of October.

Eduardo Peña, president of the Chamber of Commerce of Guayaquil, said that the imposition of the 12% of VAT for the banking services would affect the saving account Holders and investors because they would have to make more expensive credits and the growth of their money would be less. Velasco replied that since the bank is a public service, the Banking Board could set the limits and the remuneration. AV