Ecuador govt to impose new tax on telecom companies with dominant market share

panamppost.com reported on Wednesday the Ecuadorian National Assembly imposed a new tax on telecom companies with a “dominant” market share. The tax on big companies increases as their market share is larger. The tax on large companies rises in line with their market share. (La Hora) The reform to the Organic Law of Telecommunication, approved with a 93-25 vote, received a high dose of criticism. Opposition lawmakers pointed out that it was tailored to undermine the positions of only select companies. The law establishes a tax for companies with a market share of over 30 percent — a trimonthly imposition starting at 0.5 percent of their revenues. As the market share of a company increases, so does the rate of taxation. President Rafael Correa Exempts State Companies from “Dominance” Levy. Read Article

GAIN A DEEPER UNDERSTANDING OF THE CULTURE IN ECUADOR – READ THIS BOOK