- Ecuador’s SRI has clarified that a 15% VAT applies to all habitual financial services, including card transaction fees, money transfers, digital payments, and related commissions.
- The 15% VAT rate is confirmed for 2025 and 2026 and applies to all entities in the national financial system, including public, private, and cooperative sectors.
- Financial institutions must act as VAT collection agents, declare and pay the tax, and issue sales receipts for taxable services.
- The SRI will conduct audits and compliance checks to ensure proper VAT application.
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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