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With the Law of Production Incentives, this year’s Special Consumption Tax (ICE) were reviewed and the prices of products such as cigarettes were affected. The ICE rate increased from 0.0925 to 0.1310 cents per unit. In the case of cigarettes, the Marlboro white box that...

The fall in oil prices in the international markets is reflected in sales of Ecuadorian crude. The West Texas Intermediate (WTI), which serves as a reference for Ecuador, has suffered a collapse of more than 60% since last June, which impacts in the public finances. According to...

The President of the Republic, Rafael Correa, said this Saturday that the Government would be able to overcome economic difficulties because of the fall of oil prices. He added that “the problem is not fiscal, is external” noting that the Ecuadorian economy is...

Roberto Aspiazu, director of the Ecuadorian Business Committee (EEC) estimated that the government would raise about $ 180 million annually with the tariff reform of 588 items of merchandise. Among the items afflicted with 051-2014 resolution of the Committee of Foreign Trade...

The Government indicated that education, knowledge, creativity and innovation are the issues it will be support during this 2015, which has been called the ‘Year of Innovation.’ Yesterday in the City of Knowledge, Yachay, the Innopolis fair began, in which government...

The Governments of Ecuador and Peru will meet on Monday in Quito to discuss the implementation of an exchange safeguard measure of 7%, which applies to Peru since January 5th. This would be the second meeting held by the President of Ecuador, developed after the appointment of...

The Deputy Minister of Environment, Lorena Sanchez, approved the environmental license to allow the National Mining Company (Enami) and the Chilean company Codelco resume advanced exploration activities in the Llurimagua project. This mining project is located in the parishes...

For more than eight hours the Ministers of Foreign Trade of Ecuador and Colombia, Francisco Rivadeneira and Cecilia Alvarez – Correa analyzed the application of exchange safeguards. The meeting lasted until 19:00 but the parties have not yet reached agreement on this...

The Internal Revenue Service (SRI by its Spanish acronym) said yesterday that from this month taxpayers who issue invoices from USD 20 shall compulsorily fill the customer´s data (name or business name and identification number or RUC). Previously, the amount from which this...

The exchange safeguard measures to imports that arrive from Colombia and Peru are enforced from the January 5, despite the warnings of the Andean Community (CAN). The CAN alerted the day after the announcement of the Ecuadorian government, that “the application of safeguard...