In an interview, President Lasso explained that the tax reduction will be gradual at a rate of 0.25 points each quarter.
The President of the Republic, Guillermo Lasso, announced this morning, the reduction of the Tax on Foreign Currency Outflow (which is now 5%) by one percentage point, during the four quarters of 2022, at a rate of 0.25 points each quarter. President Lasso said that From January 1, 2022, all imports will pay an ISD of 4.75% in the first quarter. For the second quarter it will be at 4.5%; the third quarter will pay 4.25% and in the fourth quarter it will be at 4%. He recalled that the reduction of the ISD was a campaign offer and assured that the Government has encountered different numbers from those presented by the previous government, so it is not possible to make a reduction in a single blow, but gradually so as not to affect public finances.
President Lasso had taken a first step with the ISD by reducing to 0% the ISD that has to do with the aeronautical sector, which also made it possible to initiate agreements for the signing of open skies with certain countries. Now the announced measure has to do with all sectors in general and not just one in a specific way.
In between, andPresident Lasso referred to the problem that Ecuador is experiencing at the moment and that is the paralysis of the oil pipelines due to the effects of the regressive erosion of the Coca River and its tributaries. In this sense, he said that The seventh variant that Petroecuador is building for the Ecuadorian Trans-Ecuadorian Pipeline System (SOTE) is already 85% complete, while the OCP has 60%. He said that it is expected to be able to finish the seventh variant before the end of the year.
The president assured that the impact of the lack of export and the need to import fuels to cover domestic demand, it will reach $ 533 million. He assured that he hopes to recover the export in 2022.
President Lasso also commented that this year, the expected deficit is $ 4 billion and that in 2022 it could be $ 2.6 billion.
On the subject of the increase of the salary to $ 425, of which its ratification was announced yesterday in the National Council of Work and Salaries said that it was about compensating those who suffered the most, which were the employees. He explained that the workers saw their hours and wages decreased and they had to endure. Now that the economy begins to reactivate, this should be noted with benefits to the family, he said. He stressed that it is the highest salary increase in the last eight years.
For President Lasso, The improvement of the indicators in the labor issue does not depend so much on the salary, as on the investment. He explained that for this reason they have sought to attract investment and a portfolio of $ 30,000 million in projects has been presented through the Open for Business. The idea is to achieve this investment in strategic projects of hydrocarbons, energy, telecommunications, among others.
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