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García: “There is willingness to change the Capital Gains law”
Posted On 01 Sep 2017
Ecuadornews:
The president of the Advisory, Productive and Tax Council and Minister of Industries Eva Garcia said that President Lenin Moreno would have the final decision on the application of the 13 proposals made by the productive sector. Many proposals have been made, including the amendment of the Capital Gains Law. Garcia explained that the President also had expressed his willingness to amend the law because “of a fall in the construction sector that is tremendously detrimental to any economy. When construction falls, more than eight related areas fall,” he said.
On the proposal of the gradual elimination of the tax on the exit of currencies, García stated that everything depends on the amount of foreign currency entering Ecuador. She said that this requires the promotion of income through exports and foreign investment. She explained that removing a point on the outflow of currencies would represent 200 million in the first year. (I)
