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President dismisses lies about “high” taxes in Ecuador

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President dismisses lies about “high” taxes in Ecuador

President dismisses lies about “high” taxes in Ecuador
September 21
10:04 2015

Lumbisí (Pichincha).- President of the Republic, Rafael Correa, refuted the lies from opposition regarding the tax burden in the country. The President explained that Ecuador is below the average for Latin America on this issue. (See Presentation) According to data presented during weekly report 442, Europe has a tax burden of 36.7%, Latin America 21.2%, while that of Ecuador is 20%.
Also, comparative figures presented regarding tariffs Value Added Tax (VAT) in Europe is 21.4%, Latin America has an average tax of 14.94% and in Ecuador it reaches 12% only in Paraguay it is over 10% and 7% Panama. The Head of State recalled that medicines, most food and basic goods components do not pay VAT therefore denying the poor pay taxes. Director of the Internal Revenue Service (SRI), Ximena Amoroso said an Ecuadorean has to earn $ 25,000 per year with deductible ($ 14,400) to start paying income tax. The strip exempt from this tax is 10,800. “What poor person earns more than 800 dollars a month?” The President said with deductibles (food, clothing, housing, health) the middle class does not pay this tax either.

“The problem is that the rich are those who own the media and they do have to pay taxes you should see their tax returns before the Citizen Revolution,!” said the president. Regarding the taxes they owe for business, the President made a comparison of averages and said, for example, Argentina has a corporate profits tax of 36%, the US federal and state tax from 39.9% in Ecuador was reduced from 25% to 22%, below the Latin American average is 27%. The president questioned entrepreneurs speak of a need for tax and regulatory stability in the country and said “I’ll keep changing the rules and laws as often as necessary to have a better country, more just, more equitable. A country with real entrepreneurs,”. JEF/ElCiudadano

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