Ecuador Passes Solidarity Act to Fund Earthquake Rebuilding

The Ecuadorean Congress on May 12, 2016, passed the Ecuadorian President's Solidarity bill proposed in April. The Solidarity Act includes all actions that the President proposed initially to fund the rebuilding of areas affected by the Apr 16, 2016, earthquake, as well as new measures not inclu...

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Bibliographic Details
Published inJournal of International Taxation Vol. 27; no. 8; p. 21
Main Authors Salerno, John A, Landaluce, Daniel, Leiman, Jose, Echenique, Lucia, Bel, María, Silva, Camila, Aguirre, Pablo, Gordillo, Jaime, Chiriboga, Jordana
Format Trade Publication Article
LanguageEnglish
Published Boston Thomson Reuters (Tax & Accounting) Inc 01.08.2016
Subjects
Bills
Clauses
Compliance
Earthquakes
Income taxes
Multinational corporations
Nonresidents
Wealth tax
Ecuador
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Summary:The Ecuadorean Congress on May 12, 2016, passed the Ecuadorian President's Solidarity bill proposed in April. The Solidarity Act includes all actions that the President proposed initially to fund the rebuilding of areas affected by the Apr 16, 2016, earthquake, as well as new measures not included in the initially proposed bill. The provisions of the Solidarity Act entered into effect on May 20, 2016, when the law was published in the National Registry. Multinational companies with employees, operations, or investments in Ecuador should consider how the recently enacted legislation may affect their activities and operations.
ISSN:1049-6378