Ecuador: 5 years tax exemption for savings and credit cooperatives

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The National Assembly of Ecuador announced a project that contains a tax incentive in the Organic Law for the Restructuring of Debts of Public Banks and National Financial Sector, on 20 March 2017. In accordance with the project, entities resulting from the merger of savings and credit cooperatives will have an income tax exemption of 5 years as from the date of the merger, provided certain requirements are met.

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