Retirees are worried because of the tax law proposal 

Image: El Universo

Pensioners from the social insurance are worried about the change in the exoneration base to pay the income tax for people above 65 years old, which nowadays it´s even twice the taxable fraction, and it is proposed to be one (11.170). According to the project of Organic Law for the Balanced Public Finances, proposed by the Executive, and that´s also found in the Assembly for its debate and approval in 30 days.

The Coordinator of Ecuador Retired Teachers´ president, Alfonso Yánez, feels like “another hit” this action, because in 2015 other actions alike were taken, through the Law for the Labor Justice, law that the State used to stop providing the 40% to the pension fund.

The Extraordinary Meeting of Retiree Associations, Pensioners and Seniors from Ecuador met yesterday. They decided that on Monday the will attend the Commission of Economic Regime of the Assembly for them to be allowed to “expose the mistakes that are made with the articles that they want to approve, pretending to force the retirees to pay an exemption that´s forbidden by the Constitution, in articles 6, 7, 371 and 372. “They are forcing us to pay all the taxes”, said the institution´s President, Édison Lima.

The President of the Internal Rent Service, Leonardo Orlando, said that only the retirees that get more than $3.072 will have to pay the income tax considering that they have more income. They are around 1.200 people.