Ecuador

Informative equity statement

Ecuadorian fiscal residents with assets (in Ecuador and/or abroad) at 1 January of over 20 un-taxed income tax basis (USD 234,440 for fiscal year 2023), or over 40 un-taxed income tax basis (USD 468,880 for fiscal year 2023) for a married couple, must file an informative equity statement. However, there is no tax levied. Non-compliance of filing this annex is subject to penalties.

Accounting records

Ecuadorian fiscal residents with income greater than USD 300,000 in the fiscal year are required to keep accounting records. This obligation does not apply for individuals under a labour relationship.