The Committee on Economic, Productive and Microenterprise Development of the National Assembly will meet this Monday, December 4, 2023 to review the draft Organic Law on Economic Efficiency and Employment Creation, presented by President Daniel Noboa as urgent in this matter.

The time of the session where the document will be discussed and the work schedule defined, which includes speeches by economic authorities and experts, has not yet been determined.

The Legislative Administrative Council (CAL) met on the night of December 1 to qualify the initiative and refer it to the competent committee.

Daniel Noboa’s tax bill, with tax amnesty, would leave $832 million net to state coffers

The commission is chaired by Valentina Centenowho is the head of the official bench of the National Democratic Action (ADN) and one of the president’s closest associates.

The vice president is Blasco Lunafrom the ranks of the Civil Revolution (RC).

They also exist from the DNA bench Karina Subía, Steven Ordóñez and Nicole Saca.

And from RC, Lenin Lara and Katyushka Miranda.

For the Christian Social Party (PSC), Jorge Acaiturri.

The group is filled with Pedro Velasco, good people.

The table, therefore, has eight members of the legislative majority that was integrated into the installation of the current period, consisting of RC, ADN and PSC.

According to the Organic Law on the Legislative Function, since it is an urgent project, the Commission has ten days to submit a report for the first hearing.

What changes does the new tax reform proposed by Daniel Noboa bring?

The document has 96 pages. Reforms are proposed to various legal bodies to create tax incentives for job creation, implement tax amnesties and strengthen the regime of free zones and public-private partnerships.

The law would have a net fiscal impact of approximately $832 million, which would be collected in 2024, according to the legal body’s technical report.

Since it is an urgent economic project, the Parliament has a deadline of 30 days from its introduction to approve or reject it, that is, the plenary session must decide by the end of December.