On 29 April 2016, Ecuador published the Organic Law for the Balance of Public Finances in the Official Gazette. The law includes a number of various measures, including a 10% withholding tax on payments related to the extraction and sale of minerals; a 10-year tax exemption for foreign engineering, procurement or construction contractors; reductions in individual income tax benefits; and others ({News-2016-04-12/P/2- previous coverage}).
The law applies from the date it was published.