By Executive Decree 1021 issued on March 27, 2020, the President
of Ecuador, adopted the following tax measures within the state of
emergency:
1. Income tax withholding:
The following entities will be
required to withhold and pay on a monthly basis income tax over
their total taxable income obtained in each month:
| Entity activity
|
Monthly income tax
withholding rate (%)
|
| Financial institutions under the
supervision of the Superintendency of Banks and entities that
provide mobile telephone services. |
1,75% |
| Entities that have entered into
contracts with the Goverment for the exploration and exploitation
of hydrocarbons under any modality or, contracts for specific works
and services under the Hydrocarbons Law or, complementary petroleum
services as well as transportation of crude oil. |
