Posted On 02 Jun 2015
Yesterday, June 1, the Ecuadorian Business Committee filed their concerns to the possible variation of the method of calculating tax inheritance.
The President of the Ecuadorian Business Committee (EEC), Henry Kronkle, stated that the reform worries entrepreneurs because it could discourage the investment in the country, which is not compatible with the speech to encourage new capital inflows.
According to Richard Martínez, President of the Chamber of Industries and production, more than 80% of domestic enterprises has a family structure. The main concern is the method for the application of the tax.
Currently, there is already a tax on inheritances of 35%, high and located to Ecuador in sixth place of the countries with the highest rate in this type of tax, said Francisco Alarcón, President of the Camera of Industries of Guayaquil.