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Exemption from payment of income tax to foreign companies was analyzed in a forum
Posted On 29 Jul 2015
Image: El Universo
Foreign companies investing in the country would have five years of exemption from the income tax payment as a sectorial incentive and 10 years of tax exemption to those that generate basic industries.
These would be some of the benefits that the government offered to a group of foreign investors in the metalworking sector, who participate in the first forum “Invest in Ecuador,” organized by Pro Ecuador, where a delegation of 17 businessmen from 8 countries participated.
Daniel Grano, representative of the Brazilian company VMG Aires, specializing in the production of air conditioning equipment for public transport, pointed out that in the case of installing a plant, they would export their products to Colombia, Peru, Mexico and Dominican Republic.
“We are keen to settle in Ecuador, precisely in Ambato, where most companies are bodywork,” Grano said, adding that the initial investment would be $ 1 million.
Sources:
EcuadorTimes “The first ecuadorian digital newspaper with bilingual news on the web”
