Previous Story
Bill to repatriate capital still in process
Posted On 29 Aug 2017
Ecuadornews:
The Government seeks to attract more resources through a Capital Repatriation Law. The initiative announced by President Lenin Moreno – on July 28 – still does not reach the Legislature. The last public event where the authorities referred to the issue was during the meeting of the Productive and Tax Advisory Council, on August 14, in Guayaquil.
Since then it has been known that the options embraced by the regime are: the reduction of tariffs and special treatment for the collection of the tax on the exit of foreign exchange (ISD). Another idea is to determine incentives for the money to return.
According to official estimates, around $ 30,000 to $ 36,000 million would be outside the country, although it is not yet clear how much would be recovered with the bill.
In the region, Chile and Argentina are recent examples of the results that the state coffers have obtained after applying a law similar to the one the Ecuadorian Government has in mind. (I)
