On November 11, the Economic Regime Committee concluded its study of the Tax Reform Bill. The legislators analyzed the remaining observations made to the text, including the tax of digital platforms and tasking the intermediary companies in the payment process to act as withholding agents. Committee chairman Daniel Mendoza (ruling party) said that the report could be ready “by the end of this week”. The National Assembly has until Sunday November 17 to approve, file or reject the amended articles.

The legislators analyzed the scenario for the companies producing economic activity creating gross income in excess of one million dollars during fiscal year 2018. They welcomed the Internal Revenue Service (IRS) delegate Patricio Jimenez, who presented two proposals for unified tax. Some members argued that the best proposal would be for 9,800 taxpayers to pay this single tax, producing 532 million dollars, thus improving revenue uptake.

Legislator Cesar Solorzano (PSP – opposition) indicated the need to study the contributions that companies could make, depending on their earnings. Assemblywoman Lira Villalba (ruling party) referred to the need to produce an estimate of the profits of 1,500 companies to see how much they could contribute.

The chairman Mendoza also recalled that certain parliamentarians suggested leaving out the articles on the reforms to the Monetary Code and the Planning and Public Finances Code in the drafting of the second report. It is worth mentioning that negotiations are still taking place between the different groups in this section.