Tax on capital gain
The President of the Republic, Rafael Correa, announced that today will send to the Assembly the project of creation of a tax to “extraordinary value” or surplus value that win the land or real estate when public works appear. Shall be calculated on the second sale of the property, because it is difficult to set the initial value of the good, because of the dollarization in 2000.
The President made this announcement during a televised discussion that held last night with three economists and analysts of the area: the President of the professional Guild of Pichincha, Víctor Hugo Albán; the rector of the Universidad Ecotec, Fidel Márquez, and the columnist Walter Spurrier.
He said that his house, initially bought in $140,000 and now valued at 200,000, would not pay anything. And mentioned that in his opinion, there are “confusion” and desire to “create fear” created by the business groups and the media.
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