2023-05-26 16:02:12
The law proposes changes in the income tax. It is the first decree law that the president presented after activating the cross death.
Constitutional Judge Alejandra Cárdenas set for Tuesday, June 6, at 10:30 a.m., the telematic public hearing to review the decree law of economic urgency with the Organic Law for the Strengthening of the Family Economy, through which the Government seeks to implement a tax reform.
President Guillermo Lasso was summoned to the diligence; the Minister of Economy and Finance, Pablo Arosemena; and the State Attorney General, Juan Carlos Larrea.
In the order issued by the judge on the afternoon of Thursday, May 25, Judge Cárdenas asked the president to submit a report to the Constitutional Court (CC) within three days justifying the reasons for the economic urgency of the decree. .
It also arranged to post the decree law on the Court’s website and invite the public to present amicus curiae.
The tax reform was the first decree law presented by President Guillermo Lasso, on May 17, after activating the death cross and dissolving the National Assembly. If it passes the constitutional control filter, the law will enter into full force.
According to the Executive, the economic emergency law will reduce taxes, will strengthen the economy of 460,000 families and will mean that close to $200 million will return to the pockets of taxpayers.
The norm contemplates modifications to the Internal Tax Regime Law. Change the scheme of reductions to the payment of income tax for natural persons, which will now be greater the more family responsibilities the taxpayer has and reform the table. They will be able to deduct up to $15,294 a year in personal expenses.
In addition, the Tax Regime for Entrepreneurs and Popular Businesses (Rimpe) is adjusted so that popular businesses with annual sales of up to $2,500 do not pay income tax when their sales exceed that value (up to $20,000).
A novelty is that the single tax of 15% is created for operators of sports forecasts and the exemption from the value added tax (VAT) of 12% for public shows is eliminated. (YO)
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