The Ecuadorian government has continued its economic recovery efforts by refunding value-added tax (VAT) to real estate projects. According to the Internal Revenue Service (Servicio de Rentas Internas, SRI), in October, 563 credit notes totaling $11.3 million were issued to taxpayers in the construction sector. This initiative is part of the Resource Redistribution Program and aims to promote private investment and job creation.
In September, more than $36.2 million was refunded to the sector. Combined, over $47.5 million has been returned during these two months, showing ongoing governmental support for this area of the economy.
Alexandra Navarrete, director general of SRI, stated: “The Resource Redistribution Program has a direct impact on the country’s economic recovery, injects liquidity, guarantees worker stability and strengthens the sustained growth of Ecuador’s economy.”
The administration led by President Daniel Noboa Azin says it remains committed to transparency, efficient tax practices and economic development by ensuring resources reach sectors that contribute significantly to national growth.
