Ecuador Tax Agency Announces 2022 Individual Income Tax Reduction Due to Coronavirus

The Ecuadorian Internal Revenue Service Jan. 7 announced the 2022 individual income tax reduction due to the coronavirus pandemic. The announcement includes: 1) the 2022 January deadline to file the single return; 2) the reduction in income tax for the personal expenses incurred, with a sales receipt; 3) a list of expenses eligible for the deduction; 4) a requirement to maintain the proof of sales receipts for seven years; 5) the submission of the revised actual personal expenses when different from the estimate; 6) the calculation procedure under the new personal expenses regime for the determination of the maximum income ...