Ecuador Proposes law to increase taxes on private telecoms operators’ profits

Posted on August 1, 2014 • Filed under: Business, Ecuador, Internet reported the government of Ecuador has submitted a bill to increase taxes on private telecoms operators’ profits. The bill stipulates that private telecoms operators should give 12 percent of their profits to the state and 3 percent to their workers. The state will invest the money in social projects, connectivity programs as well as large projects implemented by the government.

The country’s president Rafael Correa said that the spectrum belongs to all Ecuadorians and that the use of that spectrum should generate profit for the people. Correa also said that private telecoms operators repatriate most of the profits back to their home countries. Read Article

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