Economic measures: changes in taxes and labor contracts

Ecuadornews:

Finally, President Lenin Moreno announced on Wednesday, October 11 his long-awaited economic plan and reiterated that the economic situation is difficult.

The most important announcements are tax and labor matters.

The Income Tax for companies will return to 25%, as it was until 2010, said Moreno. Currently, the tribute is 22%.

The president clarified that the increase will not apply to micro and small enterprises, nor for those that guarantee a permanent income of dollars to the country.

The IR will also be applied to the Christmas bonus of “the privileged group” of Ecuadorians who earn more than $ 3,000 per month, from 2018. (I)

Source: http://www.expreso.ec/economia/medidas-economicas-cambios-en-impuestos-y-contratos-laborales-KB1762729