OrbitaxTax Reform Bill to increase taxation of financial institutions – presented to National Assembly
|Proposed Changes|Ecuador
On 26 October 2012, the National Assembly debated a Tax Reform Bill, which aims to increase the tax burden of private financial entities, that was presented by the Government. The most important amendments proposed are as follows:
| - | introduction of an additional tax at the rate of 3% on the taxable income of financial entities; | |
| - | elimination of the extension to financial entities of a 10 percentage point reduction of the corporate in… |