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Repatriation of capital is an option to increase investments in the country
Posted On 01 Aug 2017
Ecuadornews:
Promoting the repatriation of foreign capital is a “beneficial proposal.” This is how economic analysts define it, after the announcement of President Lenin Moreno to create a bill to meet this goal. The Head of the Nation revealed the figures of the Budget Proforma 2017 and the measures that will be adopted to maintain dollarization.
After detailing that the economic numbers reflect a “challenging” situation, five actions were announced: the dynamization of the construction sector, the attraction of investments and income of foreign exchange, stimulation of the use of digital means of payment, austerity policy, and the prioritization of public investment.
On the second point, financial engineer David Meza said that the proposal would be profitable, “since it would attract investment to the country and generate jobs.” The specialist clarified that at present, the repatriation of capital has no cost or tax.
He recalled that at the level of tax legislation, only the Exit Tax (ISD) must be paid. For Meza, this approach is a sign that the government wants to ally with the private sector, which is also an engine of the economy. (I)
