Changes were included in the proposal. Meanwhile, the Economic Regime Commission also recommended changes to the Pro Forma Budgetary.
This Saturday, November 13, 2021, the Economic Development Commission of the Assembly met for the treatment and resolution on the report of the draft Organic Law for Economic Development and Fiscal Sustainability (tax reform), with which the Government tries to raise $ 1.9 billion in two years.
With six votes in favor and three abstentions, the Commission approved the report for the first debate of the economic project sent by the Executive with the character of urgent economic.
In compliance with the established deadlines and with 6 affirmative votes and 3 abstentions, the Commission approves the report for the first debate of the draft #EconomicDevelopment Law, the same that will be debated by the #PlenoLegislativo of the @AssemblyEcuador pic.twitter.com/1r4ayBy6sb
– Economic, Productive and Microenterprise Development (@DesarrolloEcAN) November 13, 2021
According to Wilma Andrade, vice president of the Commission, the income base for the payment of Income Tax was modified from $ 2,000 to $ 2,500 and the amount of deductions for personal expenses was increased to $ 10,000.
The Commission also reported that with eight votes in favor, the motion of Assemblyman Francisco Jiménez (BAN) was approved to maintain the original wording of the bill in relation to the temporary contribution to heritage of natural persons.
While, with seven votes in favor, the motion was approved for modifications to be made to the draft report that was distributed to the assembly members, including the elimination of matters related to the issue of hydrocarbons..
Daniel Noboa (CREO-INDP.), President of the Commission, thanked the work of the table and said that the sectors representing the people were included in the debate.
For the analysis of the proposed Law, the members of the commission met with tax and economic experts, businessmen, professors and productive sectors with whom the first changes began to be defined. These observations were raised by more than 70 individuals and institutions that appeared.
Economic Regime Commission asks to observe the Budget Pro forma
For their part, the members of the Economic Regime Commission, in charge of the analysis and treatment of the Pro forma Budgetary 2022, approved, with five affirmative votes, the report in which they recommend to the Plenary of the Assembly to observe the Pro forma and the Quadrennial Programming 2022-2025, so that aspects related to the health and education, as well as resources for universities, in order to expand the Academic Offer.
They also recommend specifying the amounts expected to be collected for each nonfinancial public asset that is scheduled for sale or monetization. (MFU)
