Assembly debates more sections in Law of Public-Private Partnership

Image: El Universo

With a report that extends from 8 to 30 the sections of the draft Organic Law on Incentives for Public-Private Partnerships and Foreign Investment, the Assembly began yesterday the second reading of this bill sent by the Executive branch as an economic urgency.

The report of the Commission includes the return of the value added tax only for mining projects; the arbitration in tax matters is not subject to international agencies; and the remission of interest, penalties and surcharges in payments arrears by the Ecuadorian Social Security Institute (IESS) and the immediate remission of the total amount of capital and interest of the National Development Bank (BNF for its Spanish acronym).

Another issue into question in the plenary was the simplification of processes and procedures. The project points out that any legal source that determines the administrative procedure shall be simplified by the President through Executive Decree.

Source: http://www.eluniverso.com/noticias/2015/10/28/nota/5210036/mas-articulos-ley-alianza-publico-privada