Number of heirs will define the tax payment

According to the table of inheritances, bequests and donations of the Draft law on the payment of the tax to inheritance, would depend also the number of beneficiaries.

The President Rafael Correa, during his citizen link, explained the tax percentages which citizens shall cancel upon receiving a legacy, he said, is for “heir and not for the value of a property”.

Inheritances which surround the $35,400 will pay zero tax. According to the system of internal rents (SRI).

For example, if a house is valued at $100,000 and three sons inherit, the value is divided and it would be $33,000 each value don’t pay tax because not reach the $35,400. A legacy of up to $70,800 for three children, would not pay tax.

If the legacy amounts to $141,600, each beneficiary will cancel a tribute of $885,00, so on.