President overrules Parliament to impose 3% VAT rise from 1 April 2024 Ecuador’s new President, Daniel Noboa, on 9 February 2024 overruled parliamentary attempts to block a VAT rise. He had originally proposed a permanent rise from 12% to 15%; but now may impose a
Latest wave of taxpayers mandated for e-invoicing from 29 November 2022 Since 1 June 2021, Ecuador’s SRI (Internal Revenue Service of Ecuador) expects all transactions over approx USD 1,000 to be supported by an Comprobante Electronico (electronic invoices). The next wave of taxpayers mandated to
Ecuador has withdrawn the option to use withholding VAT on digital services purchased via non-resident marketplaces or payment aggregators. This updates the 16 September 2020 introduction of indirect taxes on non-resident providers. Previously, if a marketplace or payment aggregators did not manage the VAT due,
COVID-19 disruption results in tax relief The Central American state of Ecuador has extended the deadline for July VAT transaction submission from 20 August to 20 September 2021. This is in recognition of the ongoing COVID-19 health and economic crisis. This includes the payment of
The central American state of Ecuador has cut its standard Value Added Tax rate from 14% to 12% from 1 June 2017. The Internal Revenue Service (Servicio de Rentas Internas, SRI) originally raised the rate to 14% in 2016 following a major earthquake. There is
