He The President of the Republic, Guillermo Lasso, signed on May 23, the second decree on economic matters, to attract, promote investments for productive development. The decree law was drawn up between the Ministry of Production, Finance and the Tax Administration, headed by President Lasso, and cooperation between the production sectors and the academic community was also achieved.
The same bill was already presented to the Parliament, but it was not even analyzed. It will now go to the Constitutional Court, which is still waiting for the processing of the first regulation of the Law on Tax Matters (tax reduction through higher tax deductions).
In case of, The Minister of Economy and Finance, Pablo Arosemena, described the decree law as an important step in the path outlined by President Guillermo Lasso to create a favorable environment for investment, competitiveness and job creation.
Among the most important points of the Regulation are:
What are the main tax benefits for those in Zedes and free zones?
Meanwhile, the Minister of Production and Foreign Trade, Julio José Prado, explained which sectors can access these areas.
Technological, agro-export, agro-industrial sector, high value-added services such as health, culture, technology, sports, recreation and research. There will also be free zones related to logistics: including transportation, storage, packaging, labeling, repacking.
Prado also clarified that the zones will be of the multi-company type, like the well-known technology parks, but they can also be single-company, and they will be able to function within the city in the building, for example software export.
The government is also committed to giving legal certainty to the Zedes that were previously created.
Minister Prado also assured that the best experiences were taken from Colombia, Costa Rica, the Dominican Republic, countries where investments and jobs have grown significantly, related to free zones.
He also explained that the legal decree guarantees the labor rights of employees of companies in free zones. Companies must comply with social security. Prado explained that there is no regression of rights in this decree law.
Source: Eluniverso
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