On December 1, 2024, President Daniel Noboa Azín issued Executive Decree No. 468, modifying the rate of the Tax on the Exit of Foreign Currency – ISD applicable as of 2025. Thus:
1. The governing body of public finances shall issue the list of tariff subheadings to which the modification of the DME tax rate shall apply. For such purpose, the following rates shall be applicable:
Sectors | DME RATE |
Tariff subheadings of the pharmaceutical sector | 0% |
Tariff subheadings determined by the Public Finance Management Entity, for the first quarter of 2025 | 0% |
Tariff subheadings other productive sectors | 2,5% |
2. The Ministry of Economy and Finance will evaluate the results every six months. The Ministry will evaluate annually the relevance of the continuity of the measures set forth in the Executive Decree. Likewise, the State portfolio will annually evaluate the relevance of the continuity of the measures set forth in the Executive Decree.
3. The Superintendence of Economic Competition will carry out the corresponding actions of prevention, investigation, correction and sanction in case of possible unfair practices and/or behaviors that affect free competition on the part of the beneficiaries of the measures contained in this Executive Decree.
Quito D.M. / Guayaquil, December 2024
