Tax collection amounted to 6.917 million dollars for the state in the first four months of this year, and in April alone, the Tax Administration (SRI) collected 2.398 million dollars, or 9.5% more than the year before and is attributed to higher profits reported by companies during 2022. year and the controls carried out.

And that is that the general director of SRI, Francisco Briones, pointed out that the income tax of the companies registered by April amounted to 2.876 million dollars and that this is the highest figure in the last five years.

How much income tax will you pay if the tax reform is implemented?

The Internal Revenue assures that economic activity continues to register growth and quantifies that between January and March the amount of sales reached 50,967 million dollars, compared to the first three months of last year, which represents an increase of 5%. In 2022, record sales of 225,000 million dollars are predicted.

For Value Added Tax (VAT) up to last March, $2.809 million was collected, here a growth of 7.2%. A total of $696 million was raised in April alone, 5.7% more than in April 2022.

Income tax: now the reduction will depend on how many family obligations the taxpayer has, not on salary

In the case of foreign taxes such as foreign exchange outflow tax (ISD) and special consumption (ICE), which depend on imports, a decrease of 15% and 9.2% was recorded, respectively. The reason for this is a decrease in imports (FOB value) of 5.5 percent compared to 2022. “Despite the above, collection continues to grow and the fulfillment of the goal has reached 96 percent of the forecast,” SRI explains.

The entity assured that these figures show that the efforts to fix the economy are yielding results. “This allowed the government to propose a tax reform aimed at reducing taxes for Ecuadorian families. This proposal means that $195 million will remain in Ecuadorian homes for consumption or savings, strengthening the economy,” he said in a statement.