Finance Minister Discusses New Measures to be Included in Tax Reform
4 octubre 2019

On October 2, Finance Minister Richard Martinez issued a statement about the economic measures announced earlier by Lenin Moreno. As well as eliminating the tax on foreign currency outflows (ISD, for its acronym in Spanish) for the stock market, he added that the reform bill will now be submitted to the Assembly for urgent debate.

Martinez explained that the bill is divided into four parts. Along with the first and lengthiest chapter, on taxation, there will be sections addressing reforms to the Monetary Code, the Planning and Finance Code, and in relation to labor. 

The minister explained that the bills concerning the securities market and the Public-Private Partnerships reform law are on the Government’s agenda but will be presented to the Assembly for the time being. He cited as a reason that while the Legislative branch is examining a bill classed as urgent, the Executive cannot put another bill before it. However, Martinez predicted that these measures will be presented soon.