The Government prepares measures of “fiscal devaluation” to encourage the economic activity of the companies

Finance Minister Carlos de la Torre announced that a fiscal “devaluation” plan will be implemented to reduce production costs for companies that generate employment and foreign exchange. This was assured in a conversation held yesterday at the Pontifical Catholic University of Ecuador.

One possibility is to reduce the employers’ contributions to the Ecuadorian Institute of Social Security (IESS), which would be assumed by the Treasury in order to energize the companies. In addition, De la Torre argued that other measures are sought to lower production costs that could be analyzed by the Advisory, Productive and Tax Council. (I)