Ecuador Tax Rulings and Decrees, 2023-24

In a separate ruling by the Constitutional Court...

the court upheld a recent Lasso decree restoring

pre-covid-era deductions involving Ecuador taxpayers.

Taxpayers may deduct up to $15,294 annually

from their tax obligations going forward ..

under the approved new decree.

Source... Cuenca Highlife

Twelve percent VAT tax on events.

While approving a higher tax-deduction limit,

Ecuador's Constitutional Court also restored

the Value Added Tax of 12 percent on

concerts and sporting events.

Restoration of the VAT tax had been opposed

by companies that stage and promote

such events.

Source... Cuenca HighLife

El presidente puts the squeeze on Expats.

In recent years, Ecuador has gradually been phasing out

the tax on wiring money out of the country.  A reduction

of this tax from 3.5 percent to two percent was scheduled

for the last day of 2023.

But new presidente Daniel Noboa has put an end to these

reductions, at least for now, and the reduction to two percent

has been canceled.

Noboa figures that with Ecuador's shaky economy, it can't

afford to allow Expats to wire money out of La República for

a pittance.  So the 3.5 percent tax continues to apply

on wire amounts of $1,000 US or more.

News source... www.cuencahighlife.com