Government backs off of top inheritance tax rate in proposed legislation

Jun 13, 2015 | 0 comments

In a Friday morning press conference, National Assembly President Gabriela Rivadeneira announced that the proposed top inheritance tax rate of 77.5% is being reduced to 47.5% for all classes of inheritors.

National Assembly President  announces a reduction to the proposed top inheritance tax rate on Friday.

National Assembly President Gabriela Rivadeneira announces a reduction to the proposed top inheritance tax rate on Friday.

Last week, President Rafael Correa had reduced the top rate for direct heirs to 47.5% but said that others heirs would be taxed 77.5% for estates valued above $849,000.

Rivadeneira said that additional changes to the proposed legislation were possible before the full assembly begins debate on the bill later this month.

Those opposed to changes in inheritance tax rates have protested throughout the week in major Ecuadorian cities, including Quito, Cuenca, Manta, Santo Domingo, and Guayaquil. The protests have turned violent in Quito where pro-Correa forces have clashed with the opponents of the legislation. In Cuenca, protesters complained that pro-government supports threw eggs and paint at them Friday night.

In Cuenca and Guayaquil, smaller protests and counter-protests have been staged without major incidents.



Expat Community News

Dani News

Google ad


Fund Grace News

Gypsy News

The Cuenca Dispatch

Week of February 25

Cuenca Finally Gets to Experience Van Gogh Like Never Before.

Read more

Ecuador lost just over a million hectares of forest formations in 38 years.

Read more

Drone Plants 1,500 Trees in 15 Minutes to Combat Deforestation.

Read more

Google ad

Veronica Arpi News

Hogar Esperanza News

Subscribe to our newsletter

Cuenca High Life offers on-line publications, local translated news, and reports about the expat life and living in Ecuador. 

You have Successfully Subscribed!