Ecuadoran President Rafael Correa has proposed a new inheritance tax, with a bill soon to be introduced in the National Assembly. He emphasized that the new measure will not affect the middle class or poor as it will apply only on inheritances above US$35,000. Last year, only one in 3,000 Ecuadorans received an inheritance worth more than US$35,000. The bill, Correa explained, is designed to break a centuries-long inertia in which one hundred families dominated the country's economy. teleSUR
