The “Law for Economic Efficiency and Job Creation” was published on December 20, 2023, in the Supplement of the Official Gazette 461.
The Ministry of Labor, through Ministerial Agreement MDT-2023-175, set the statutory minimun wage.
From the enactment of the Organic Law for Economic Development and Fiscal Sustainability, published in Official Gazette Supplement 587 of November 29, 2021, freight was excluded from the calculation of the taxable base for customs duties.
On November 14, 2023, the Labor Ministry issued the General Rules to Control Employer Obligations and Inspection Proceedings by means of the Ministry Agreement No. MDT-2023-140.
On November 20, 2023, the Republic President issued the General Regulation on the Violet Economy Impulse Organic Law (hereby the “Regulation”) published on the Second Supplement of the Official Registry Nr. 444 on November 25, 2023.
On November 27, 2023, the President of the Republic submitted to the Legislature the draft of the “Law for Economic Efficiency and Job Creation”. The draft bill was classified as urgent; therefore, it must be processed by the National Assembly within the next 30 calendar days.
Under Resolution No. ARCERNNR-031/2023, effective since November 1, 2023, the Agency for Regulation and Control of Energy and Non-Renewable Natural Resources (“ARCERNNR”) issued Regulation No. ARCERNNR-008/23 containing the "Framework for Distributed Generation Enabling Self-Sufficiency Among Regulated Electric Energy Consumers".
The Constitutional Court, by means of a judgment in Case 51-23-IN, dated November 9, 2023, notified on November 17, 2023, declared Presidential Decree 754 unconstitutional, considering that it violates the constitutional rule of reserve of law.
On January 12th, 2020, the Constitutional Court of Ecuador issued the ruling 58-11-IN/22, by which the Law for Environmental Promotion and Optimization of State Revenue was declared unconstitutional for infringing the unity of subject matter principle.
On November 6, 2023, the President of the Republic signed the Executive Decree 904, through which the Regulation of the Law on Personal Data Protection is issued.
By Resolution No. SCVS-INC-DNCDN-2023-0022 dated October 26, 2023, published in the First Supplement of the Official Gazette No. 428 of October 31, 2023, the Superintendent of Companies, Securities and Insurance ordered the repeal of Resolution No. SCVS-INC-DNCDN-2023-0019 dated August 29, 2023, which established the “Guidelines of probity and civil capacity of companies or individuals which act as legal representatives or officers of companies subject to the control and supervision of the Superintendence of Companies, Securities and Insurance”.
Through Resolution JPRF-F-2023-076 (hereinafter "Resolution"), issued on September 11, 2023, and published in the Second Supplement to the Official Gazette 402 of September 22, 2023, the Board of Financial Policy and Regulation (hereinafter "JPRF") enacted "Regulations for Fintech Entities”.