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Ecuador President Proposes Package of Relief Measures to Support Job Creation and Retention

20 November 2024

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Proposed Changes

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Ecuador

Ecuadorian President Daniel Noboa has proposed a package of relief measures to support job creation and retention. Some of the main measures include: An income tax credit for companies that maintain or expand their workforce from October to December 2024 that is equal to 25% of the social security contributions made during that period; A 1% to 2% tax on the gross taxable income of private universities that can be offset by scholarships provided to students in public or state-funded high schools (final rate to be set by decree, otherwise defaults to 1.5%); An option for taxpayers with outstanding tax...