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Tax law will include analysis of other issues
Posted On 30 Mar 2016
The urgent economic bill that is expected to be sent today by the Executive branch to the Assembly would contain, in addition to the ICE increase to drinks and cigarettes, other key issues.
According to legislator and member of the Legislative Administrative Council (CAL) Fausto Cayambe (AP), one of them would be the discussion of the amount of dollars in cash a citizen can take abroad and that are exempt from declaration and taxes. “What if less than $ 10,000 are taken abroad? Do you declare or not declare; Do you have to pay taxes or not? That’s the discussion,” said Cayambe.
Currently, $ 10,000 is the amount exempt from declaration; while the payment of tax on Overseas Remittance is a basic fraction ($ 11,170).
On the ICE, Cayambe explained that four basic criteria for the rise will be addressed: that products do not belong to the basic food basket, that excessive consumption is harmful, prevent smuggling and protect the employment. The increase would be based on liters, he said.
