Update - Pending Protocol to Tax Treaty between Ecuador and Italy

The pending protocol to the 1984 income and capital tax treaty between Ecuador and Italy was signed on 13 December 2016. The protocol includes the following changes:

• Article 2 (Taxes Covered) is updated with respect to the taxes covered for both countries;
• Article 3 (General definitions) is updated with respect to the definitions of the terms "Ecuador" and "Italy" and the term "competent authority" for both countries;
• Article 27 (Exchange of Information) is replaced in line with the OECD sta…