Ecuador Increases Certain Income Tax Withholding Rates

Ecuador's Internal Revenue Service (SRI) has published Resolution No. NAC-DGERCGC20-00000020 of 12 March 2020, which increases the income tax withholding rate on the acquisition of all types of movable property (of a corporal nature) from 1% to 1.75%. The Resolution also includes an increase in the withholding tax from 2.0% to 2.75% on payments made to natural persons for services, and payments made on services provided by credit card companies to their affiliated establishments.

The resol…