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CUENCA DIGESTNew website provides economic data about Ecuador

If you’re considering starting a business in Cuenca, or anywhere else in Ecuador, and need an overview of the business climate, there’s a new website that can help.

InfoEmpreses, www.supercias.gov.ec, a service of the office of Ecuador’s Superintendency of Companies provides information about corporate sales and assets and much more. The information is consolidated and does disclose information about particular companies, but breaks down data into a variety of categories.

The Superintendency office says the information will be not only useful to businesses but to anyone interested in gaining an overview of the economy of Ecuador. “This will help university students, the media, financial institutions and international organizations, just to mention a few,” said a spokesman for the office.

NEW PERSONAL ASSET REPORTING REQUIREMENT REJECTED BY COURT

Ecuador’s new asset disclosure law remains in limbo after a court in Guayaquil ruled the measure illegal early this week. The law would require the reporting of personal assets by Ecuadorian citizens and residents of more than $200,000 held by individuals and $400,000 held by married couples.

Following the ruling by the Ninth Court of Guayaquil, director of Ecuador’s Internal Revenue Service (SRI), Carlos Marx Carrasco, said the SRI disagreed with the ruling and would appeal.

An unnamed source at the SRI said that it is unlikely that even with a reversal of the court decision that the government can enforce the new law this year. “We don’t have the data bases to track and verify most financial information. To establish this will take several years.”

He added that his office expects a very low rate of compliance once the rule is in effect. “Most Ecuadorians are unaware of the requirement and those who are understand its real intent, which is to pursue assets taken out of the country during the economic crisis 10 years ago and during changes of presidential administrations. Billions of dollars in government assets were removed from Ecuador illegally. Most of this is in Miami and Panama City and we would like to get it back.”

CUENCA REPORTS FIRST CASE OF AH1N1 VIRUS

Azuay health director, Julio Molina, has confirmed the first case of AH1N1 in Cuenca, a 14-year-old girl who is studying in Guayaquil.

Molina said the girl was in Cuenca on holiday visiting her family when she was hospitalized at Corral Regional hospital. He said the victim appeared to be in good condition and should recover quickly.

So far, there have been 84 confirmed cases of AH1N1 in Ecuador but no fatalities. As in the other countries, the flu strain appears mild and so far, poses no more threat than other seasonal flues.