Ecuador to Introduce Special Contribution on Assets, Regularization Regime, Incentives for New Investment, and Other Reform Measures

Ecuador's National Assembly is considering the draft Law for Economic Development and Fiscal Sustainability after the COVID-19 Pandemic, which was submitted by the government on 28 October 2021. Some of the key measures include:

• A temporary special contribution tax on assets as follows:
  • for natural persons with assets of at least USD 1 million as on 1 January 2021, the contribution is equal to 1.0% on assets between USD 1,000,000 and 1,999,999.99 and 1.5% on assets of USD 1.2 million or mor…