- Ecuadorian National Assembly approves security contribution taxes and considers VAT increase proposal
- Security contribution rates for banks based on 2023 profits to be established
- One-time temporary security contribution of 3.5 percent of company’s profits for 2022 tax year
- Remittance tax on foreign currency outflows (ISD) to be modified to 5 percent
- 5 percent VAT rate to be implemented on local transfers of construction materials
- Proposed increase in VAT rate to 13 percent to be reconsidered after president’s veto
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
