Referendum question could end high real estate capital gains tax

Relief could be on the way for Ecuador’s construction and real estate industries. Others worry, however, that that relief could ignite another real estate “bubble” like the country experienced from 2010 to 2014 and make it more difficult for poor Ecuadorians to afford homes. Question number six of the February 4 referendum proposes the revocation of the the “Ley de Plusvalia” (Law of Capital Gains), which also goes under the longer name of the Organic Law of Avoidance of Speculation of Value on Lands and Fixation of Tributes, in translation. The Ley de Plusvalia was passed by the National Assembly…

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