Capital Gains Act causes concern among the private sector; the AME supports the bill

The Government’s intention to send the Capital Gains Act to the Assembly caused concern in the industry at a moment the Habitat III conference is being held in Quito.

Silverio Duran, head of the Chamber of Construction Industry (Camicon) said that the Government’s proposal establishes a tax on the capital gain. “According to the bill, most of the tax will go to the town halls, and 25% of it belongs to the person doing the business,” said Duran.

The leader felt that there could be an affectation because investors would prefer to put their money into the financial system.

“If they are put many conditions, many obstacles, the investor will simply decide to put his money in another sector, which may be the financial system…” he added.