Taxes grew by 11% in December in Ecuador

The director of the Internal Revenue Service, Leonardo Orlando, reported yesterday that the tax collection of December last year rose by 11% compared to the same month of 2015.

In an interview, he indicated that this is a sample of how the economy has been recovering because there was also a 4% increase in the collection in the third quarter of 2016. But he acknowledged that the year’s goal would have remained at 93%.

He explained that the economy had its most difficult moment in the first half of 2016, as there was a 16% fall in taxes. On the other hand, in the second semester there has been an upward trend, especially since August.

He also explained that during the year, payments of $ 600 million were received with Central Bank Securities (TBC) which, he explained, are a decrease in liabilities.

He stressed that tax refunds have been paid to priority groups and that there is a lag of less than 3%.