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BREAKING NEWS
Cristian Espinosa was appointed Ambassador of Ecuador to the United States
Daniel Noboa receives the credentials of the new United States ambassador
40,000 women will receive scholarships in higher education
Julian Assange released from prison, after agreement with the United States
Armed Forces: Criminal gangs have lost USD 1.2 billion due to military operations in Ecuador
Minister of Defense: “It is not fair that some risk their lives, while others play with justice”
How can green banana flour enhance baked goods?
“I’m crazy for wanting to serve my country,” says Daniel Noboa at the presentation of “La Cárcel del Encuentro” in Santa Elena
Construction of the Encuentro maximum-security prison in Santa Elena begins
National blackout in Ecuador due to transmission line failure, confirms the Government

Government will return taxes to exporters

Posted On 10 Feb 2015

impuestosThis February 9 the Minister of Industries, Ramiro González, announced that by a presidential decree the ‘drawback’ mechanism will beformalized, the tax refunds to foreign trade, ie, tariffs and tax burdens for exporters.

According to President Rafael Correa in his last weekly address, the realized 5% payment of the export value will be taken as a calculation basis. This measure will apply to all non-traditional products.

For traditional ones, it will apply only in certain cases and the percentage will be lower. With regard to bananas, according to a table provided in the weekly address, 2% will be returned for sales to the European Union, 3% if it is Russia and 4% to China.

Whereas for tuna 3% will be returned and for flowers, being nontraditional, it will be 5%. Alejandro Martinez, President of Expoflores said this is positive because it will allow employers maintain liquidity.

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Cristian Espinosa was appointed Ambassador of Ecuador to the United States

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