Ecuador: SRI announce updated personal income tax brackets and rates for 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
See More
Ecuador releases updated technical sheet for standardizing the analysis of transfer pricing
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
See More
Ecuador introduces tax reform bill aimed at boosting foreign investment
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
See More
Ecuador: SRI gazettes resolution amending transfer pricing rules
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
See More
Ecuador submits a draft bill in the parliament on tax incentives for audiovisual and energy sectors
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
See More
OECD: Peer Review Report on Tax Transparency in Ecuador
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
See MoreEcuador introduces a new regime for investors
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
See MoreEcuador: SRI extends administrative deadlines due to COVID-19 pandemic
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
See MoreEcuador: National Tax Authority amends rules on submission request for APAs
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
See MoreEcuador: Government make rules on advance income tax payments
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
See MoreEcuador: SRI issues provisions on automatic application of tax benefits
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
See MoreEcuador: Government delays MCAA on automatic exchange of financial information
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
See MoreEcuador: Government publishes Resolution regarding DST
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
See MoreEcuador: Government publishes a Resolution regarding special advance tax payment
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
See MoreEcuador: Reminder for the effective date of Vat law regarding digital service tax
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
See MoreEcuador: Government publishes Resolution regarding exceptional advance tax payments
On 4 August 2020, the Government published a Resolution No. NAC-DGERCGC20-00000051 of 4 August 2020, which establishes rules of how to collect an exceptional advance tax payment pursuant to Executive Decree No. 1109 of 31 July 2020. It applies for
See MoreEcuador: The Internal Income Service amends prior Resolutions regarding transfer pricing
On 1 July 2020, the Government published Resolution No. NAC-DGERCGC20-00000046 of 1 July 2020, which amends the calculation of profit level indicators. According to amendments, it is provided that taxpayers must use the last financial information
See MoreEcuador: SRI publishes a Resolution to extend the TP report filing deadline
On 6 May 2020, the Internal Revenue Service (SRI) published Resolution NAC-DGERCGC20-00000032 , which extends the deadline of Annex on Related Party Operations and the Comprehensive Transfer Pricing Report for fiscal year 2019 between 10 and 28
See More