Tax News Update    Email this document    Print this document  

November 20, 2019
2019-2074

Ecuador's National Assembly rejects and archives tax reform bill

Taxpayers should continue to monitor any action on tax reform as the President is expected to propose a new bill.

The Ecuadorian National Assembly rejected and archived the tax reform bill proposed by President Lenin Moreno. For more information, please refer Tax Alert 2019-1955.

Background

On November 17, 2019, the plenary of the Ecuadorian National Assembly (Session 629) met to debate and discuss the second and last report of the tax reform bill. The deadline to approve or reject the tax reform was on the same day the meeting was held.

The National Assembly did not approve a motion to reject the tax reform bill. Rather, with 70 votes in favor, 32 votes against and 31 abstentions, the National Assembly decided to reject and archive the tax reform bill proposed by President Moreno.

Looking ahead

President Moreno plans to submit a new tax reform bill to the Ecuadorian National Assembly. To enact a tax reform bill before the end of the year that would be effective in 2020, the Government will have to file a new bill by the end of November, because the General Assembly will only have 30 days to review, reject or approve the bill.

———————————————

Contact Information
For additional information concerning this Alert, please contact:
 
Addvalue Asesores Cia. Ltda., Quito
   • Javier Salazar (javier.j.salazar.cepeda@ey.com)
   • Alex Suarez (alexis.a.carrera.reyes@ey.com)
Addvalue Asesores Cia. Ltda., Guayaquil
   • Carlos Cazar (carlos.cazar@ec.ey.com)
Ernst & Young, LLP, Latin America Business Center, New York
   • Ana Mingramm (ana.mingramm@ey.com)
   • Enrique Perez Grovas (enrique.perezgrovas@ey.com)
   • Pablo Wejcman (pablo.wejcman@ey.com)
 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2024, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement