Ecuador updates withholding tax rate for various entities

March 05, 2024

On 29 February 2024, the Ecuadorian Official Gazette released Resolution No. NAC-DGERCGC24-00000008, which sets forth withholding percentages for taxpayers to apply at the source. The resolution outlines the introduction of the following withholding

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Ecuador: SRI updates list of tax haven jurisdiction

February 29, 2024

On 20 February 2024, the Ecuador Internal Revenue Service (SRI) amended Resolution No. NAC-DGERCGC15-00000052 through Resolution No. NAC-DGERCGC24-00000007. As per the amendment, the tax authority included the following countries and territories as

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Ecuador: SRI imposes monthly self-withholding for large taxpayers

January 30, 2024

On 12 January 2024, Ecuador's Internal Revenue Service (SRI) released Resolution No. NAC-DGERCGC24-00000003. This resolution outlines the withholding tax rates for various economic activities under the newly introduced monthly self-withholding

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Ecuador: SRI announce updated personal income tax brackets and rates for 2024

January 10, 2024

On 26 December 2023, Ecuador’s Internal Revenue Service (SRI) announced updated personal income tax brackets and rates for 2024, with minor adjustments for most earners and a slight increase for the highest income bracket. The changes, outlined in

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Ecuador releases updated technical sheet for standardizing the analysis of transfer pricing

December 10, 2023

On 22 November 2023, the Ecuadorian Tax Authority released a new edition of the technical sheet for the standardization of transfer pricing analysis, effective for fiscal year 2023. This updated document introduces significant changes to filing

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Ecuador introduces tax reform bill aimed at boosting foreign investment

December 10, 2023

On 28 November 2023, newly elected President of Ecuador, Mr. Daniel Noboa proposed a tax reform bill designed to attract foreign investment and boost the economy. The key proposals of the bill are as follows: The special economic development

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Ecuador: SRI gazettes resolution amending transfer pricing rules

September 25, 2023

On 13 September 2023, Ecuador's Internal Revenue Service (SRI) issued Resolution No. NAC-DGERCGC23-00000025, which modifies the transfer pricing rules. The resolution includes following measures: Taxpayers who have conducted transactions with

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Ecuador submits a draft bill in the parliament on tax incentives for audiovisual and energy sectors

December 01, 2022

On 24 November 2022, the government of Ecuador submitted a draft bill in the National Assembly that provides incentives for audiovisual and energy sectors. The incentives include: A remittance tax exemption on expenditures occurs for carrying

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OECD: Peer Review Report on Tax Transparency in Ecuador

August 19, 2022

On 16 August 2022 the Global Forum for Transparency and Exchange of Information for Tax Purposes released a second round (phase 1) peer review report in relation to Ecuador. The peer review report examines the legal and regulatory framework in

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Ecuador introduces a new regime for investors

February 27, 2022

On 22 February 2022, the Ecuadorian government presented a bill in the National Assembly that introduced a new regulation for a Special Economic Zone (SED) and a Free Trade Zone for investors. The draft law provides for the following

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Ecuador: SRI extends administrative deadlines due to COVID-19 pandemic

July 30, 2021

In this COVID-19 outbreak, on 29 July 2021, the Internal Revenue Service (SRI) published Resolution NAC-DGERCGC21-00000036. The SRI extends the suspension of the periods and terms of all tax administrative processes and the limitation periods of

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Ecuador: National Tax Authority amends rules on submission request for APAs

March 25, 2021

On 11 March 2021, the Deputy General Director of the Internal Revenue Service (SRI) Officially issued and signed Resolution No. NAC-DGERCGC21-0000001 in Spanish, which provides several changes to the transfer pricing regime on advance pricing

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Ecuador: Government make rules on advance income tax payments

January 15, 2021

On 22 December 2020, the Government Officially published a Resolution No. NAC-DGERCGC20-00000071 to describe the rules for income tax payments voluntarily instead of mandatory advance income tax payments. The Tax reform law 2020 repealed this

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Ecuador: SRI issues provisions on automatic application of tax benefits

December 07, 2020

On 12 November 2020, the Internal Revenue Service (SRI) Officially published Resolution No. NAC-DGERCGC20-00000067 of 12 November 2020, amending the Resolution No. NAC-DGERCGC18-00000433 that establishes the maximum amounts and requirements for the

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Ecuador: Government delays MCAA on automatic exchange of financial information

October 16, 2020

On 29 September 2020, the Organization for Economic Co-operation and Development (OECD) published an update regarding signatories of the multilateral competent authority agreement (MCAA) on automatic exchange of financial account information and

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Ecuador: Government publishes Resolution regarding DST

September 11, 2020

On 22 August 2020, the Government published Resolution No. NAC-DGERCGC20-00000053 of 22 August 2020, which establishes rules for non-resident digital service providers regarding withholding VAT on digital services. According to this, non-resident

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Ecuador: Government publishes a Resolution regarding special advance tax payment

September 07, 2020

On 4 September 2020, the Director General of Internal Income Service published Resolution No. NAC-DGERCGC20-00000054 of 4 September 2020, providing procedures of how to collect an exceptional advance income tax payment pursuant to Executive Decree

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Ecuador: Reminder for the effective date of Vat law regarding digital service tax

August 26, 2020

The VAT law or Organic Law for Tax Simplicity and Progressiveness was Officially published on 31st December 2019. On 28 July 2020, the President approved the rules for administering the VAT measures on digital services. The new VAT comes into

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