Previous Story
Some 2.5 million taxpayers could benefit from the Law of Productive Development
Posted On 17 Aug 2018
Ecuadornews:
Around 2 and a half million taxpayers could benefit from the Productive Development Law that includes, among other issues, 100% remission of interest, fines and surcharges if the total capital is paid.
The tax obligations that benefit from the referral are: statements not submitted or poorly presented, quotas of the Simplified Tax Regime (RISE) which is a voluntary registration regime that replaces the payment of VAT and Income Tax through monthly installments, vehicle registration and debts in process of collection (suspended due to administrative or judicial challenges).
They do not accept remission: pending obligations of the Income Tax for fiscal year 2017 and obligations due after April 2, 2018.
To qualify for the referral, the taxpayer must pay the capital owed and desist from the administrative and judicial challenges. In addition, the taxpayer may not initiate subsequent legal actions on the debts canceled under remission.
Beneficiary groups
There will be two groups of referral beneficiaries:
– First group, companies whose average gross income of the last three years is greater than $ 5 million or taxpayers who maintain taxes withheld and received pending payment on April 2, 2018, who must pay the entire capital.
– Second group, those not included in the previous group that may pay the entire capital or request payment facilities (up to two years). (I)
