ANNOUNCEMENT 22 Jul 2015

In July 2015, the government of Ecuador announced changed rules for foreign investors.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE



Resoluci?n N? 107-2015-F (in Spanish) https://www.juntamonetariafinanciera.gob.ec/PDF/resolucion107f.pdf?dl=0

EL COMERCIO (in Spanish) La banca queda exenta del pago del Impuesto a Salida de Divisas. http://www.elcomercio.com/actualidad/banca-exenta-pago-impuesto-ecuador.html#


Inception date: 22 Jul 2015 | Removal date: open ended

Controls on credit operations

On 22 July 2015, the Ecuadorian government exempted certain transactions from the currency outflow tax (ISD) via Resolution 107-2015-F. Outbound payments that are connected to foreign direct credit, credit lines or deposits shall no longer be subject to the 5 percent tax imposed in 2008.
 
Eligible funds have to fulfull four requirements:
1) be in the form of a direct loan, credit line or deposit;
2) registration at the Central Bank;
3) a maturity exceeding one year;
4) be directed to the financing of corporate productive loans, business productive loans, loans to SMEs, priorty commercial credit, housing credit, micro credit or to alleviate liquidity requirements of such entities.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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