The regulations, proposed by the Executive, were analyzed by the Economic Development Commission, which approved the report with eight votes, after modifying the initial text by 70 percent.
Among the substantial changes is the contribution of private and public sector workers to their net monthly income, which will be for those receiving more than US$720 and not US$500, as initially suggested by the national government.
The contribution will be made for nine months.
With regard to the contribution of 5.0 percent of companies with profits of over US$ 1 million, the parliamentarians decided to make it based on fiscal year 2019 and not 2018 as originally proposed by the law.
They also incorporated an article that includes a joint and several contribution on real estate and representative rights of capital existing in Ecuador, owned by companies resident in tax havens and other jurisdictions abroad.
Only the health sector will be exempted from these contributions.
The funds of the Special Account will be used to finance health plans, programs, projects and activities, as well as for the sustenance of persons in a state of vulnerability, including monetary transfers.
The final draft took 10 working sessions, held over nine days, during which the members of the Commission received 124 comments on the proposal and heard 88 speakers (49 public and 39 private).
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