Tuna and floriculture Industry will not pay income taxes this year

This year, the tuna and floriculture Industry will not pay income taxes due to falling international prices

Through Executive Decrees 645 and 646, the government ordered the exemption of payment of income taxes of 2015 to companies in the tuna and floriculture sector. This measure is due to the fall in international prices, the appreciation of the dollar and the devaluation of the Euro, especially the flower sector, which since last year has become less competitive countries like Kenya and Colombia.

Against this, the Ecuadorian Federation of Exporters (Fedexpor), described as positive the “drawback” measure, in which the IRS will automatically return taxes to these sectors. ” “Countries like Peru, Chile have this system (…), we also wanted non-traditional exports to be stimulated this way,” said Felipe Ribadeneira, president of Fedexpor.

Part of what is levied by safeguards will be allocated to export sectors according to Ramiro Gonzalez, Minister of Industries, who also said it is estimated to raise $ 400 million, of which $ 250 will be returned by the concept of “drawback.”