Ecuador Publishes Tax Reform Law for 2020

Ecuador published the Law of Simplicity and Tax Progressivity (Law No. SAN-2019-1270) in the Official Gazette on 31 December 2019, which includes tax reform measures for 2020. Key measures of the law include:

• The introduction of a temporary additional corporate income tax on companies whose gross income exceeded USD 1 million in the 2018 fiscal year that is payable for fiscal years 2020, 2021, and 2022 according to the following rates based on total taxable income declared for the 2018 fisc…