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Discount for IESS debts will remain in force until March
Posted On 23 Dec 2015
Until March 17, 2016, employers and volunteer affiliates that have debts to the Ecuadorian Institute of Social Security (IESS) will be able to pay their obligations and receive a 99% interest discount and 100% discount in fines and penalties, announced yesterday the institution through a newsletter.
The benefit is stated in the Organic Law of Tax Incentives for Public-Private Partnerships recently approved. About 162.000 employers may benefit and more than half a million affiliates will have access to the IESS services.
In the framework of the Advisory Council of the Productive Sector, a meeting of Government officials with the Ecuadorian business sector, which took place in Cuenca, the Coordinating Minister of production Vinicio Alvarado, reported that the IESS will grant credits to companies (creditors to the State) with a 8.25% preferential rate so these pay their taxes and employer obligations.
Minister of Industries Eduardo Egas spoke of a new modality of contracts in order to maintain and generate new jobs. He said that the State recognizes the special particularuty of certain activities that require temporary workers (agriculture, transport, construction sectors). But now tourism, crafts and the fishing sector will be taken into account, Egas also assured that other productive sectors will be identified.
Source: http://www.eluniverso.com/noticias/2015/12/23/nota/5312496/hasta-marzo-rige-baja-intereses-deuda-iess
