SRI talk about the inheritance law

The main objective of the Law of Inheritance will be to avoid that big economic groups use trusts to evade their tax obligations, said Ximena Amoroso, Director general of the SRI.

“Almost all companies operating in the country used the figure of trusts, but a high percentage does to protect its heritage,” said. And she explained that it was detected in preliminary reports on the entity that some economic groups had between 5 and 20 trusts.

It is planned the Bill to establish mechanisms to stop the circumvention, for example, incorporating requirements according to the type of trust, and set taxes for those who make improper use of them.

On the other hand, reported that revenue in 2014 by the inheritance tax was $10.6 million, representing 0.5% of the GDP, so the Government insists that the reform has an end of socially useful and non-collection.

The Bill would establish a base of 100 unified basic salaries ($35.400), since it is equivalent to the value of a House of social interest.