New taxes Would Apply in Ecuador since January 2012

According to Carlos Marx Carrasco (SRI), the Ecuadorian government needs that the tributary reform be approved by court before the end of the year, this way the changes made will be valid on next year.

According to Carrasco, the money received from the tributary reform will finance the payment of teachers and other expenses ($200 million per year). Emergency health is also a priority ($406 millions) and the improvement of fuel is essential for their green politics ($200 millions).

The Reform Project is of urgent economic importance and it will be sent to the Assembly shortly. Regarding the increase of the Departure Tax Foreign Exchange (ISD for its Spanish acronym) from 2% to 5% pretends to keep the money of exportations that do not return to the country. According to Carrasco this will balance the payments and the sustainability of the dollar. (AV)