• ENGLISH
  • ESPAÑOL
facebook
twitter
  • National>Entertainment
  • National>Local Economics
  • National>Local Politics
  • National>Society
  • National>Sports
BREAKING NEWS
Singue case, involving Jorge Glas, is reactivated from the previous investigation
Daniel Noboa is the first confirmed presidential candidate
The World Bank will provide USD 300 million to finance SMEs in Ecuador
Refugee children in Ecuador create comic about forced displacement
Countries to which Ecuadorians can travel without a visa
New air routes will arrive in Ecuador in June
Asian supermarkets participate in Macro Business Roundtable
Smithsonian Museum returns heritage assets to Ecuador
Buyers from 30 countries will be at the Macro Business Roundtable
National Court requests red notice from Interpol for María Duarte

Self-employed workers may contribute to IESS according to their wages

Posted On 08 Mar 2014

On last Thursday the director of the Internal Revenue Service (IRS), Carlos Marx Carrasco said that the contribution to the Ecuadorian Institute of Social Security (IESS) that professionals and self-employed should make under the new figure of Mandatory Applicable Membership to people with unrelated dependency, which begins on April 1, should be done by calculating the 20.60% of wage and not on profits.

For example, he said, a doctor making $ 200,000 a year should pay wages, rent, among others, besides his own salary  which could be $ 24,000 a year. The contribution should be made upon salary. As for the profit that remains, he must pay utilities to his workers and also the income tax, but not to the IESS.

Carrasco stressed out that the payment made to the IESS will now be deductible from expenses, so there will be a fiscal impact. “I have spoken with the president of the IESS, Fernando Cordero, and they have agreed to clarify such confusion with an instructive.”

Carlos Marx Carrasco

Carlos Marx Carrasco

About the Author
  • google-share
Previous Story

Google celebrates Women’s Day with Doodle

Next Story

Ecuador, Mexico´s investment destination

SEARCH

LATEST NEWS

Singue case, involving Jorge Glas, is reactivated from the previous investigation

Posted On 02 Jun 2023

Daniel Noboa is the first confirmed presidential candidate

Posted On 02 Jun 2023

The World Bank will provide USD 300 million to finance SMEs in Ecuador

Posted On 02 Jun 2023
Copyright © 2010 - 2019. All Rights Reserved. EcuadorTimes.net