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Three groups of measures will generate $ 1.6 billion
Posted On 16 Oct 2017
Ecuadornews:
The $ 1.6 billion the government expects to raise with the economic measures announced last week by the President Lenin Moreno will come mainly from the customs control fees and tariffs that will be applied by the National Customs Service of Ecuador (Senae).
The second largest revenue package will come from the fight against tax defraud. Economy Minister Carlos de la Torre said days ago that this is not only a tax collection measure, but it prevents the loss of some 200,000 jobs and $ 2 billion a year.
According to data from the Finance Ministry, the income tax increase for companies and individuals is ranked third. Experts consulted agree that measures aimed at micro and small enterprises (MSMEs) are positive. However, there are still other parameters that cause concern.
Juan Carlos Jacome, an analyst at EMS Consultores, believes that “the big winners of these proposals are exporters and micro and small entrepreneurs in some way, but I think that the combination of all these elements does not lead us to a clear line of economic recovery.” For Jacome, details are not yet defined, but tax returns would not have an added impact on the economy, these are mere ‘snacks’ to oxygenate the business sector. (I)
