Ecuador

Corporate - Significant developments

Last reviewed - 02 March 2022

On November 2021, a new tax reform was enacted, including several changes in tax legislation such as: new temporary contributions for entities and individuals, fiscal residency rules for individuals, elimination of CIT exemptions for new and productive investments as well as for public-private partnership (currently, tax incentives and benefits are subject to investment contracts entered with the Government), personal expenses treatment for individuals, tax credit derived from taxes paid abroad, VAT exemptions, transaction process for tax assessments, among others.

Publications about additional economic and regulatory measures related to COVID-19 are available at: https://www.pwc.ec