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The reduction of 99% interest and fines in the IESS expires in 60 days
Posted On 24 Sep 2018
Ecuadornews:
Until September 20, the Ecuadorian Institute of Social Security (IESS) raised $ 11 million for the reduction of interest, fines and surcharges, part of the Productive Development Law in force since August 21.
Carlos Vallejo, general director of the IESS, highlighted the benefit to the micro, small, medium-sized companies, as well as to the unipersonal ones. This segment has paid $ 6.4 million or 59.5% of the total. 9,080 companies of this type have taken advantage of the measure and 9,451 members have been able to regularize their situation in social security.
Meanwhile, from the medium and large companies entered $ 4.4 million, or 39.8%. The number of employers that have participated in the process is 2,062 and 10,658 employees have benefited. The rest is divided between the public sector and other taxpayers. In total, there are 35,468 beneficiaries.
By economic activity, the largest amount collected by the IESS comes from the wholesale and retail trade sector, followed by manufacturing industries and legal activities, architecture and technical analysis. The reduction of interests, fines and surcharges in the IESS will be valid until February 16, 2019 and it is executed in three stages
“Only 60 days to take advantage of the 99% reduction,” Vallejo recalled. The standard applies to obligations in arrears generated until April 2, 2018, except for those corresponding to reserve funds, unsecured loans, pledge and mortgage loans.
Employers who maintain payment agreements with the institution may also be eligible; and those who have contested obligations, as long as they desist from the challenge. The process is carried out through the institution’s website with credit and debit cards or through the 8,000 payment points in institutions of the financial system allied to the IESS.
The collection goal of the institution is $ 189 million. It is estimated that 202,000 companies can apply to the benefit and regularize 326,000 members. (I)
