Ecuador’s Internal Revenue Service (SRI) says it is up to date on VAT tax refunds to 680,000 elderly and disabled tax payers. The SRI said it was as much as nine months behind on some refunds.
SRI director Paola Hidalgo said that some of the refunds were owed since January. “The agency’s cash flow depends on the Ministry of Finance and because of the poor economy, this has been slower than usual,” she said.
She added: “We understand that the payment delay has been a matter of distress for many of our residents who depend on refunds for household expenses. We are doing everything we can to stay current in the future.”
By law, the elderly and disabled can claim up to $87.84 a month in VAT refunds on essential goods.