The IRS reminds that companies must provide information of their shareholders

Companies subject to the payment of the Income Tax must report in detail, the dividends distributed by their shareholders.

If they do not submit the information to the Internal Revenue Service (IRS), the companies shall pay a 25% tariff instead of the 22% currently levied on the Income Tax. The same rule applies to those with half or more of their capital held by shareholders in tax havens. This is the resolution published Friday in the Official Gazette, as warned by the consulting firm Strategic Intelligence to its customers.

“Foundations, despite not having to pay the tax, shall report who are their beneficiaries, administrators and even donors,” the study adds.

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8809040&idcat=38229&tipo=2