Ecuador: Capital Gains Tax Aims to Control Speculation
- 9 years ago
The proposed capital gains tax in Ecuador seeks to control real estate speculation. The bill, submitted by President Rafael Correa to Congress, will tax profits from property sales over US$7,080. It aims to redistribute wealth and increase access to land. Opponents say it gives the green light to government interference in individual's personal finances. Supporters of the measure argue that is seeks to control illegitimate capital gains obtained through proximity to public infrastructure projects. Liz Scherffius reports from Quito. teleSUR