Ecuadorian companies would have removed USD 685 million to tax havens from the country in 2019

In addition, foreign currency outflows of USD 9908 million were recorded

The Unit for Analysis and Conjuncture Studies of the Central University of Ecuador published a study, which shows that the outflow of foreign currency has grown dramatically in the last three years.

Only in 2019, the departure of USD 685.05 million would have been registered for countries that are considered tax havens.

Last year, the outflow of foreign currency destined for tax havens had an increase of 23% compared to 2018. Similarly, a total of USD 9908 million left Ecuador.

94 Ecuadorian Economic Groups with a total of 426 companies in tax havens and 41 Economic Groups with 300 members and offshore companies published in PANAMÁ PAPERS would be involved in this capital outflow.

THIS IS THE LIST OF CONGLOMERATES AND COMPANIES THAT HAVE PARTICIPATION IN FISCAL PARADISES

Ranking-companies in tax havens

Banks coincide again in the practice of capital flight.

Produbanco, for example, removed USD 5.48 million from the country while having four members domiciled in tax havens; Banco Pichincha allocated USD 3.84 million to tax havens while it has 2 members in tax havens.

In the list, the media as Ecuavisa, El Universo, El Comercio, Teleamazonas, among others, are mentioned again.

COMPLETE ARTICLE:

The great winners of the Moreno Government: Economic Groups 2017-2019, wealth, foreign exchange outflow, tax havens and tax debt.

Source: Unidad de Análisis y Estudios de Coyuntura de la Universidad Central del Ecuador