Exporters will benefit thanks to new measures

The new government measures are intended to benefit the export sector

In recent days, the government decreed the exemption of the income tax payment of 2015, as well as the automatic refund of taxes (drawback) for the export sector.

Flowers and tuna have been affected in the past year due to the competitiveness of other markets and the appreciation of the dollar, “threatening the stability of one of the main supply chains and of value added in Ecuador, since the 80% of sales are destined to foreign markets,” according to the government.

The “drawback”system will be implemented by the National Customs Service of Ecuador (Senae) and the Central Bank of Ecuador (BCE), so approximately $ 6 billion of exports will benefit, according to the Ecuadorian Federation of Exporters (Fedexpor ).