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BREAKING NEWS
Ecuador’s oil production falls 51% due to national strike
Guillermo Lasso announces that the National Police and the Armed Forces will act with the necessary means to defend public order and democracy
“Cacerolazo” for Peace in Quito
Contecon will extend the free storage time by 40%, in support of the export sector affected by strikes
76.4% of Ecuadorians consider that the national strike should end after the dialogue, according to Cedatos
BanEcuador will forgive debts of up to USD 3,000 to 9% of its clients
Leonardo Bohrer-Nicolás Lapentti, a binomial with a sporting past that seeks to win the elections at the Guayaquil Tennis Club
Commercial sector experienced an economic blow on Father’s Day
Ecuador, among the countries that suffer the most from the war in Ukraine
Desperation in prisons is a ‘ticking time bomb’

Lear about the drawback for exporters

Posted On 17 Jul 2015
DRWBACKThe Automatic tax refund system (drawback) benefits exporters because it has the resources obtained by safeguards.
According to President Rafael Correa, this will have an annual cost of $ 256 million, an amount obtained by safeguards from its entry into force from March of this year until June 2016.
The Ecuadorian Federation of Exporters (Fedexpor), believes that the initiative is beneficial because it is automatic. There are no complex procedures or calculations that slow returns. The amount -that in no case exceeds 5% – is set by the exported amount.
The resolution of the Committee of Foreign Trade (Comex) provides compensation for exports from February to December of this year. But the private sector requests its extension until 2016.
The regulation is in force since June 21 and has minor procedural flaws. Several companies, for example, can not receive the return because, according to the system of the National Customs Service, these have debts with the state. This despite the fact that the obligations are prescribed and are not valid.
Sources: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8159138&idcat=38229&tipo=2
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Ecuador's oil production falls 51% due to national strike

Posted On 24 Jun 2022

Guillermo Lasso announces that the National Police and the Armed Forces will act with the necessary means to defend public order and democracy

Posted On 24 Jun 2022

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Posted On 23 Jun 2022
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