SRI.- REGULATIONS FOR THE APPLICATION OF THE EXCEPTIONAL PAYMENT PLAN FOR TAXES WITHHELD OR RECEIVED
On January 10, 2025, the Internal Revenue Service (SRI) issued Resolution No. NAC-DGERCGC25-00000001, which issues the regulations for the application of the exceptional payment plan for taxes withheld or received [that are in arrears, until October 31, 2024]. Below, we summarize its content. 1. Taxpayers may access the exceptional
Read MoreSUBMISSION OF INFORMATION OF FOREIGN PARTNERS OR SHAREHOLDERS OF COMPANIES SUBJECT TO THE CONTROL OF THE COMPANIES LAW
As part of the annual obligations of companies subject to the control of the Superintendence of Companies, Securities and Insurance that maintain foreign partners or shareholders, the legal representatives of such companies must submit to the control entity, until February 2025, the following information: a) Overview. –
Read MoreREGULATIONS FOR THE APPLICATION OF THE INTERNAL TAX REGIME LAW
The second supplement to Official Gazette No. 709 dated December 23, 2024, publishes Executive Decree No. 487 containing amendments to the Regulations for the Application of the Internal Tax Regime Law, referring to the Single Income Tax on Sports Betting Operators. Below, we summarize its content. 1.- The reform
Read MoreSRI.- INCOME TAX TABLE 2025
On December 18, 2024, the Internal Revenue Service – SRI issued Resolution No. NAC-DGERCGC24-00000041, through which it updates the tables to settle the Income Tax of natural persons, undivided inheritances, inheritances, legacies, donations, findings and any type of act or contract by which the ownership [a título gratuito] of
Read MoreVAT.- TEMPORARY REDUCTION (TOURISM)
On December 13, 2024, the President of the Republic issued Executive Decree No. 482, which provided for the temporary reduction of the Value Added Tax – VAT rate. In accordance with this provision, the VAT rate for the provision of services related to tourist activities will be 8%, applying
Read MoreORGANIC LAW FOR THE IMPROVEMENT OF TAX COLLECTION THROUGH THE FIGHT AGAINST MONEY LAUNDERING
The fifth supplement of Registro Oficial No. 700 dated December 10, 2024, publishes the Decree containing the ORGANIC LAW FOR THE IMPROVEMENT OF COLLECTION THROUGH THE FIGHT AGAINST ASSETS LAUNDERING. The Law prescribes reforms in tax, anti-money laundering, monetary and financial, sports and corporate matters. The following is a
Read MoreMODIFICATION OF THE TAX ON FOREIGN CURRENCY OUTFLOWS
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
Read MoreMODIFICATION OF WORKING HOURS “ELECTRIC PICO Y PLACA”.
On October 22, 2024 the Ministry of Labor issued Ministerial Agreement No. MDT-2024-200, which regulates the temporary modification of working hours in response to the national emergency in the electricity sector. The Agreement seeks to make working hours more flexible during the national emergency, guaranteeing overtime pay and adequate
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