The Legislature will study a reform to the Capital Gains Law

Legislators and businesspeople defined the guidelines that will take them from words to action. Both pursue the same objective: to pave the way to reactivate production.

In that context, yesterday they met in the first workshop where business leaders proposed reforms to the Code of Production, the improvement of public-private partnerships featuring the participation of the Decentralized Autonomous Governments (GAD), the revision of the tax burden, and the improvement of monetary and stock market conditions.

Another of the key points, which will also be analyzed is a reform to the Capital Gains Law, approved in December 2016.

The Chambers of Construction and real estate associations maintain their rejection of the regulation and insist on its repeal, ensuring that its application has generated losses.

President of the National Federation of Construction Chambers Enrique Pita said he shares the stand of the authorities to exert strict control over land speculation. He considers there are enough regulations, but the current law contains elements that complicate the scenario by driving away investors and customers. (I)