It takes 664 hours for taxpayers to file returns

The Internal Revenue Service (SRI) adds to the list of private sector observations the time it takes to file returns due to the increase in what has been collected during the last decade.

The World Bank and the international tax consultant firm PWC presented a study that assures that Ecuadorian companies spend up to 664 hours in these procedures.

The estimated time, according to the global Paying Taxes 2017 report, is higher than the Latin American average (564 hours) and the global average (251 hours). Experts detect two reasons for this behavior.

The first is the tax increase. Pablo Aguirre, a representative of PWC Ecuador, explained yesterday during the presentation of the study, in Quito, that the increase in taxes requires more time for preparing, data collection and payment (I).