Decree for exporters´ taxes was made official

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 exporters. The conditions shall be determined by the Committee of Foreign Trade (Comex).

The Coordinator Minister of Production, Richard Espinosa, said two weeks ago that this mechanism will mean a profit of $ 250 million this year; of these, $ 150 million in non-traditional products.