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Tax Reform Bill to increase taxation of financial institutions – presented to National Assembly

|Proposed Changes|Ecuador
Ecuador

On 26 October 2012, the National Assembly debated a Tax Reform Bill, which aims to increase the tax burden of private financial entities, that was presented by the Government. The most important amendments proposed are as follows:

-   introduction of an additional tax at the rate of 3% on the taxable income of financial entities;
-   elimination of the extension to financial entities of a 10 percentage point reduction of the corporate in…

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