Noboa assets seized to cover tax debt

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Ecuador's Internal Revenue Service (SRI) says it will start to auction the assets it has seized to cover an alleged multi-million dollar tax debt within two months, according to Reefer Trends.

SRI National Director Carlos Marx Carrasco explained that it must first perform a valuation of the properties. According to him, nine vehicles, six planes, two boats and several properties totalling 14, 694, 200 m2 have been seized from Alvaro Noboa for the alleged tax debt of Exportadora Bananera Noboa. The latest seizure was nine farms, located in El Engabao, Beaches (Guayas). On this procedure, Carrasco said Noboa was notified on Friday 8. 'If the auction does not cover the debt Bananero Noboa, the IRS will continue with foreclosures', Sr Carrasco said yesterday morning. According to the SRI, Noboa owes nearly $133 million in taxes.

Noboa bananas are sold under the Bonita brand in Europe.

Noboa is the subject of a current Make Fruit Fair urgent action asking that the tax avoiding company enters into serious dialogue with unions and reinstates sacked workers.

Source: Reefer Trends.