The Government would return $ 250 to exporters through “drawback”

The drawback measure seeks to automatically return taxes of up to 5% to the export sector (Source: El Universo)

At a press conference in the capital yesterday, the Minister of Foreign Trade Diego Aulestia and the Coordinating Minister of Production Nathalie Cely, informed the new government measure, by which the exporting sector will receive about $ 250 million through the “drawback” system (automatic refund of taxes).

According to Aulestia, “this export progression has also been taking place in accordance with the circumstances that are derived from the appreciation of the dollar and some circumstances of external markets in particular.”

This measure was approved last week by the Committee of Foreign Trade (Comex) and will be applicative for non-traditional goods, which will be recognized 5% of export value. Regarding the banana, the value shall be 2% for the European Union, 3% for Russia, and 4% for China. Flowers and tuna will have a return of 5% and 3% respectively.

The National Customs Service of Ecuador (Senae) will comply the resolution after updating its system. Aulestia said that after this “small process”, the values will be credited, whereupon permanent evaluations will be performed.

This “drawback” system is a measure accepted by the World Trade Organization (WTO) and whose ceiling is 5%, according to Cely. (I)