Fernando Cordero: Increase of BDH will substract privileges to banks

The President of the National Assembly and member of Alianza PAIS, Fernando Cordero, said yesterday:

“The approval of the urgent law project that increases the Human Development Bonus (BDH) will only affect the privileges held by banks, which currently pay less in income taxes than any ordinary person.”

Fernando Cordero

According to Cordero, private banking has been one of the privileged sectors, for example, to pay less income tax,

“a person pays up to 25% and banks 15%. That is a privilege that I find unreasonable,”

Cordero also said that this issue is not about assaulting the bank’s profits, however, he said that the project aims to affect utilities and, technically, the profit is what remains favorable after covering all expenses, including salaries.

“We do not want to damage the banks, but to limit profits within reason,”

(MZ)