Ecuador: SRI issues decree on advance income tax payments
On 5 July 2019, the Ecuadorian Internal Revenue Service (Servicio de Rentas Internas-SRI) issued Executive Decree No. 806 of 25 June 2019 in its official website. The decree introduces new schedule for advance income tax payments. The payment of
See MoreEcuador releases advance tax refund procedure for FY 2018
On 4 June 2019, the Ecuadorian Internal Revenue Service (SRI) issued Resolution No. NAC-DGERCGC19-0000022 dated 30 May 2019 concerning refund procedures for overpaid advance income tax in financial year (FY) 2018. According to the resolution,
See MoreEcuador: SRI issues circular regarding income tax law
On 9 April 2019, Ecuador’s Internal Revenue Service (SRI) issued Circular No. NAC-DGECCGC19-00000003. The circular makes a reminder about the application of the legal regulations in force for the determination of income tax for the fiscal year
See MoreEcuador: SRI revises deadline to submit tax compliance report
The tax authority of Ecuador (SRI) issued a resolution to extend the deadline for filing the tax compliance report from 1 July 2018 to 28 July 2018, based on the ninth digit of tax identification
See MoreEcuador announces new tax incentives
The National Assembly of Ecuador issues a draft bill with number of following new tax incentives: 8-year tax exemption for investments in Quito and Guayaquil; 10-year tax exemption for investments in priority activities outside of Quito and
See MoreEcuador publishes coefficients for presumptive assessment
On 26 January 2018, the Internal Revenue Service (SRI) of Ecuador has published a Resolution No. NAC-DGERCGC18-00000018 to commence the coefficients for presumptive tax assessments for the tax year 2017. The coefficients for 2017, which vary by
See MoreEcuador reforms tax law for 2018
On 29 November 2017, Ecuador has enacted a new law published in Official Gazette-150 that reforms tax laws, effective as of 1 January 2018. Corporate income tax The new law increases the corporate income tax rate from 22% to 25% and withholding
See MoreEcuador: President signs decree for reduction of advance tax payment
On 20 November 2017, Mr. Lenín Moreno, the President of Ecuador signed Executive Decree No. 210, regarding decrease of income tax advance payments corresponding to the tax year 2017. The Decree provides a 100% reduction for individuals and
See MoreEcuador: New tax measures for 2018
On 11 October 2017, according to a press release, Ecuadorian President Lenin Moreno proposed some economic measures with tax reform plan. Key issues of this proposal are following: corporate tax rate will increase to 25% from 22%, advance
See MoreDTA between Belarus and Ecuador enters into force
On 16 August 2017, the Double Taxation Agreement (DTA) between Belarus and Ecuador was entered into force and it will apply from 1 January 2018. On 25 September 2017, Ministry of Taxes and Levies of Belarus announced it in their website. The
See MoreEcuador updates withholding tax rates
On 24 August 2017, the Internal Revenue Service (IRS) of Ecuador issued Resolution No. NAC-DGERCGC17-00000440 to amend previous Regulation N° NAC-DGERCGC14-00000787 for establishing the income tax withholding rates with effect from 22 August
See MoreProtocol to treaty between Ecuador and Switzerland signed
Ecuador and Switzerland signed an amending protocol to the Ecuador - Switzerland Income and Capital Tax Treaty of 1994 on 26th July 2017. The protocol introduces a provision for exchange of information on
See MoreEcuador ratifies DTA with Belarus
On 27 July 2017, according to Decree No. 95, the President of Ecuador ratified the Double Taxation Agreement (DTA) with
See MoreEcuador: 5 years tax exemption for savings and credit cooperatives
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
See MoreEcuador publishes income tax refund process
The Internal Revenue Service (SRI) of Ecuador published Resolution NAC-DGERCGC17-00000121 in the Official Gazette, on 20 February 2017. The Resolution establishes the process to request a tax refund of the income tax paid in excess. The key
See MoreEcuador introduces new TP regulations to exports
The Internal Revenue Service of Ecuador has issued a Resolution that was published in the official gazette on 30 December 2016. The Resolution launches transfer pricing (TP) regulations applicable to exports of bananas, oil, petrol, gold, silver,
See MoreEcuador publishes individual income tax rates for 2017
On 29 December 2016, a resolution published in Official Gazette No. 912, established the individual income tax rates applicable to income derived in 2017. The new income tax rates are as follows: Taxable income (USD) Tax due on lower limit
See MoreEcuador and Italy signed an amending protocol of DTA
On 13 December 2016, Ecuador and Italy signed an amending protocol to update the existing DTA of 1984 for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
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