The SRI provided that the TEMPORARY SECURITY CONTRIBUTION (CTS) may be paid until April 1, 2024, given its expiration on a non-working day
The Internal Revenue Service has published a list of building materials that will be subject to a 5% fee on your local transfer. For a maximum period of three months, collection agents will be able to generate electronic receipts with their own coding, while adjusting the code (5) indicated in the Off-line Electronic Receipts Technical Sheet.
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CATEGORY |
SUBCATEGORY |
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Reinforcing Steel Bars |
AS42 8mm, 10mm and 12mm diameter corrugated laminated rod |
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Aggregates |
Clay Sand Lime Limestone Stone |
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Concrete |
Ready-mix concrete |
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Binders |
Cement and its derivatives Cement waste |
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Recyclable metal materials |
Ferrous scrap |
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Mortars |
Mortars |
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Cement Precursor |
Clinker Pozzolan Plaster |
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Precast concrete and clay |
Paving stone Blocks Bricks Concrete Products |
CIRCULAR No. NAC-DGECCG24-00000001
| CONCEPT | DETAIL |
| DEDUCTIBLE EXPENSES OF INDIVIDUALS | The rebates vary depending on whether they have family responsibilities or if they are in charge of people with catastrophic, rare and/or orphan diseases. A specific calculation is established based on the value of the basic family basket. In addition, it is mentioned that certain personal expenses may be considered, while others should be excluded. It also details who can be considered as family dependents. Additionally, it is mentioned that those who received taxable income that does not exceed a certain amount can be considered as family dependents for certain tax purposes. |
| INCOME TAX ON WORKERS’ PROFITS | In accordance with the criteria of supremacy and speciality that characterize the tax law, the income obtained by workers in the distribution of profits is subject to Income Tax, which is why employers must consider such values for the purposes of withholding at the corresponding source in accordance with the provisions of Article 43 of the Internal Tax Regime Law. |
| PROVISIONS TO MEET EVICTION OR RETIREMENT PAYMENTS | Provisions to meet eviction or employer retirement payments in application of accounting regulations that were not effectively paid or used must be considered as taxable or non-income tax income in the same proportion as they would have been deductible or not. |
| DEDUCTIBILITY OF DEPRECIATION | The difference between the depreciation calculated according to the limits provided for its deductibility and the financial depreciation of Property, Plant and Equipment in accordance with the relevant financial regulations will not be deductible |
| NON-DEDUCTIBILITY ON SALE OF FINANCIAL ASSETS | The loss or discount generated in the sale of financial assets corresponding to commercial credits or portfolios that are traded outside the Stock Market or with related parties will not be deductible. |
| ROYALTY DEDUCTIBILITY, TECHNICAL, ADMINISTRATIVE, AND CONSULTING SERVICES WITH RELATED PARTIES | The deductibility limit for the sum of expenses for royalties, technical, administrative, and consulting services with related parties will be up to 5% of the taxable income for the fiscal period. Exceptions are: a) Taxpayers who are in the pre-operational cycle of the business, whose limit will be up to 10 per cent; (b) Taxpayers whose sole activity is to provide technical services to independent parties must establish their operating margin indicator. Operating margin will be calculated by dividing operating profit by operating sales. |
TAX REFORMS-ORGANIC LAW FOR THE STRENGTHENING OF TOURISM ACTIVITIES AND PROMOTION OF EMPLOYMENT
| CONCEPT | DETAIL |
| RETENCIÓN DEL IMPUESTO A LA RENTA PARA PAGOS AL EXTERIOR POR SERVICIOS TURÍSTICOS | Las personas naturales o sociedades registradas en el catastro de la Autoridad Nacional de Turismo deben retener el 15% del Impuesto a la Renta a los pagos al exterior por servicios turísticos relacionados con espectáculos artísticos y culturales en Ecuador. Si el receptor es residente en paraísos fiscales u otras jurisdicciones de menos imposición, la retención será la misma que para sociedades. |
| MATERIALES DE CONSTRUCCIÓN CRÉDITO TRIBUTARIO TARIFA IVA 5% | Los contribuyentes tienen la opción de contabilizar el IVA no compensado que hayan pagado en la compra local o importación de bienes destinados a la fabricación y/o venta de materiales de construcción gravados con el 5% de IVA, como un gasto deducible en su declaración de Impuesto a la Renta del año en el que realizaron los pagos de dicho IVA. |
| EXONERACIÓN ISD PARA AEROLÍNEAS NACIONALES Y EXTRANJERAS | Domestic and foreign airlines operating within, from and to Ecuador may be exempt from certain taxes (not specified, including ISD), provided that they comply with the procedures established by the SRI by resolution. This applies to airlines with official designation or operating permit issued by the aviation authority. |
CIRCULAR No. NAC-DGECCG24-00000001
| CONCEPT | DETAIL |
| DEDUCTIBLE EXPENSES OF INDIVIDUALS | The rebates vary depending on whether they have family responsibilities or if they are in charge of people with catastrophic, rare and/or orphan diseases. A specific calculation is established based on the value of the basic family basket. In addition, it is mentioned that certain personal expenses may be considered, while others should be excluded. It also details who can be considered as family dependents. Additionally, it is mentioned that those who received taxable income that does not exceed a certain amount can be considered as family dependents for certain tax purposes. |
| INCOME TAX ON WORKERS’ PROFITS | In accordance with the criteria of supremacy and speciality that characterize the tax law, the income obtained by workers in the distribution of profits is subject to Income Tax, which is why employers must consider such values for the purposes of withholding at the corresponding source in accordance with the provisions of Article 43 of the Internal Tax Regime Law. |
| PROVISIONS TO MEET EVICTION OR RETIREMENT PAYMENTS | Provisions to meet eviction or employer retirement payments in application of accounting regulations that were not effectively paid or used must be considered as taxable or non-income tax income in the same proportion as they would have been deductible or not. |
| DEDUCTIBILITY OF DEPRECIATION | The difference between the depreciation calculated according to the limits provided for its deductibility and the financial depreciation of Property, Plant and Equipment in accordance with the relevant financial regulations will not be deductible |
| NON-DEDUCTIBILITY ON SALE OF FINANCIAL ASSETS | The loss or discount generated in the sale of financial assets corresponding to commercial credits or portfolios that are traded outside the Stock Market or with related parties will not be deductible. |
| ROYALTY DEDUCTIBILITY, TECHNICAL, ADMINISTRATIVE, AND CONSULTING SERVICES WITH RELATED PARTIES | The deductibility limit for the sum of expenses for royalties, technical, administrative, and consulting services with related parties will be up to 5% of the taxable income for the fiscal period. Exceptions are: a) Taxpayers who are in the pre-operational cycle of the business, whose limit will be up to 10 per cent; (b) Taxpayers whose sole activity is to provide technical services to independent parties must establish their operating margin indicator. Operating margin will be calculated by dividing operating profit by operating sales. |