ARTICLE
28 February 2023

Reduction Of Several Taxes Tariffs

C
CorralRosales

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The President of the Republic, issued the Executive Decrees 643, 644 and 645 on January 10, 2023, by which the reduction of the following taxes tariffs was ordered...
Ecuador Tax
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The President of the Republic, issued the Executive Decrees 643, 644 and 645 on January 10, 2023, by which the reduction of the following taxes tariffs was ordered:

1.    Gradual reduction of the Foreign Exchange Tax (ISD) according to the following schedule:

a.    As of February 1, 2023, the tariff of the Foreign Exchange Tax will be 3.75%. 

b.    As of July 1, 2023, the tariff of the Foreign Exchange Tax will be 3.50%. 

c.    As of December 31, 2023, the tariff of the Foreign Exchange Tax will be 2%.

2.    Reduction of the Value Added Tax (VAT) tariff from 12% to 8% levied on the provision of services related to tourism activities during the following holidays:

a.    Carnival: February 18, 19, 20 and 21, 2023.

b.    Easter: April 7, 8 and 9, 2023.

c.    All Souls' Day and Cuenca Independence Day: November 2, 3, 4 and 5, 2023.

3.    Reduction of the Excise Tax (ICE) tariff for the following goods:

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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