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Through the executive decree 607, this March 12 the ‘drawback’ mechanism was made official for exporters of products affected by the appreciation of the dollar. It is a simplified procedure for conditional tax refund to foreign trade; i.e., tariffs and tax burdens for...

Blasco Peñaherrera Solah, President of the Chamber of Commerce of Quito, expressed his rejection to the measure of tariff surcharges for 2800 subheadings of imported products that took effect since Wednesday. Peñaherrera said that the measure is unconstitutional and illegitimate,...

The Coordinator Ministry of Strategic Sectors submitted the night of March 11 the Catalog of Investments 2015-2017, with the presence of representatives of business associations, chambers of commerce and holders of several portfolios of state. The document provides the investment...

Finance Minister Fausto Herrera, meets from March 9 with investors before a possible issuance of a new bond. According to official sources, the figure will be known if the issue is made, there is nothing concrete yet. However, according to international agencies, Ecuador seeks to...

President Rafael Correa said that certain operators in the country – “incited by certain media” would be trying to create a stage of speculation in the country following tariff surcharges imposed by the national government. The President said: “We have...

The imported garments will have a 45% tariff surcharge imposed by the government since this March 11. Also to the swimsuits and underwear will applied the 25% in this category. Even the inputs for local tailoring such as tissues, yarns and others, will have a surcharge of 5%. In...

Today, 14 representatives of the board of the Chamber of Commerce of Guayaquil (CCG) presented in a press conference its refusal to implement the tariff safeguards that will take effect from tomorrow. Pablo Arosemena, head of the agency, said that this measure will cause price...

Alcoholic beverages face this 2015 a second government measure that will further increase its selling price to the consumer. Through a tax reform changed the formula for payment of the Special Consumption Tax (ICE) for this year. The new formula, according to the distiller sector...

In 15.61% lowered the volume of exports of flowers by the Women’s Day. According to the Association of Producers and Exporters of Flowers (Expoflores), 6,134 tons were sold in this 2015 compared to 7,269 tonnes in 2014. Ivan León, manager of the company ZV Exportaciones,...

The application of safeguards to 32% of imports aims to “strengthen the dollarization,” according to Vice President Jorge Glas. In this way he defended the measure that shall fix surtaxes between 5% and 45% to a range of imported products, from Wednesday, March 11 and...