Ecuadorian government will pay contractors with securities to settle its debts

The construction industry asked the government to create a payment mechanism so that the debts the State has with contractors are recognized and that serves as a payment to the Internal Revenue Service.

The request was heard and welcomed under the protection of the Referral of interests, Penalties and Surcharges Act. The Construction Chamber regarded as a success the resolutions that authorize the issuance of securities of the Central Bank of Ecuador that are used as means of payment of the State to builders by invoices or forms issued. The same documents are used for the payment of taxes.

Sources: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8135606&idcat=38229&tipo=2

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