On December 13th, 2021, the President of the Republic of Ecuador, through Presidential Decree 286, ordered the Minister of Employment to submit to the consideration of the National Employment and Wages Council, the setting of the statutory minimum wage for 2022 on US$425 per month.
Below, we analyze the most important reforms regarding income tax, VAT, ICE and ISD introduced by the Law for Economic Development and Fiscal Sustainability After the COVID-19 Pandemic, published in the Official Registry 587, on November 29, 2021.
To prevent contagion of the new South African variant of Covid-19, we inform you of the protocols established by the epidemiological surveillance unit of the Ecuadorian Ministry of Public Health (MSP) for the entry of travelers arriving by air:.
Below, we analyze the wealth taxes created by the Law for Economic Development and Fiscal Sustainability after the Covid-19 Pandemic, published on the Official Gazette 587, Third Supplement, of November 29, 2021.
Below, an analysis of the most important changes regarding investment matters introduced by the Law for Economic Development and Fiscal Sustainability after the COVID-19 Pandemic, which will be enacted in the following days.
On October 26, 2021, the President of Ecuador issued the Executive Decree 238 (hereafter the "Executive Decree"), by which the Energy Sector Policies were established (hereafter the "Policies").
Regulation NAC-DGERCGC21-00000040 issued by the General Director of the Internal Revenue Service and published in the Second Supplement of the Official Registry 550 of October 1, 2021, establishes the requirements to apply the 0% rate of Outflow Tax (ISD) on transfers of money abroad made by foreign airlines.
On October 15, 2021, the President of the Republic issued Executive Decree 222, by means of which he provided for the provisions mentioned in this article.
On August 18, 2021, President Guillermo Lasso issued a Regulation to the Arbitration and Mediation Law, through Presidential Decree No. 165 (henceforth “the Regulation”. It is worth mentioning that, until its promulgation, Ecuador did not have a similar regulation, and therefore, innumerable contradictory interpretations were generated that distorted the nature of our arbitration process.
The President issued the Executive Decree 227 on October 19, 2021, by which the customs regulations were amended to allow non-intrusive inspections. Below a summary of the mos important matters.
Through Executive Decree 151, signed on August 5, 2021, the President of Ecuador issued an Action Plan for Ecuador’s Mining Sector (from now on “Action Plan”) that seeks promoting development through the positioning of mining as a relevant industry of the country’s economy.
Through Executive Decree 151, signed on August 5, 2021, the President of Ecuador issued an Action Plan for Ecuador’s Mining Sector (from now on “Action Plan”) that seeks promoting development through the positioning of mining as a relevant industry of the country’s economy.