On December 15, the Committee for Economic Development of the National Assembly approved the second report on the discussion of the urgent draft of the Law on Economic Efficiency and Employment, including new changes to the original proposal.

The text will go to the plenary session of the Assembly for discussion and voting with the reform of the Law on Organic Regulation to Strengthen the Family Economy, which was the last tax reform applied by the government of Guillermo Lasso. This seeks to change the effective date of the single income tax for sports betting operators.

The sports forecast company and SRI were the first to present ‘amicus curiae’ to the Constitutional Court for the decree of the law on tax reform

In the Lasso administration, this tax was created to enter into force on January 1, 2024, but in Article 31 of the emergency law that is currently being processed in the new Parliament, it is proposed to amend the second general provision of the law for Strengthening the family economy and that it will no longer enter into force in January rather than July 1, 2024.

This tax will be 15% and will be applied to the income that sports betting operators make online or in any other way. The law that created it was seen by the government of the day as a way to collect $10 million in taxes from sports betting operators and to regulate them.

The tax base, in the case of resident taxpayers, will be the total realized income (including commissions), less the total paid awards in the same period, provided that a percentage deduction has been made at the time of award payment. established for this purpose. And the tax base of the tax for non-resident entities will be the sum of the amounts paid by the user in each transaction.

The emergency legislation will include tax credits for those who donate equipment and supplies to the national police in security matters

The bill will be considered at the plenary session of the Assembly next Tuesday, December 19. Other changes include deductions of an additional 150% for the calculation of the income tax base, advertising, promotion, sponsorship or sponsorship expenses for the benefit of athletes or low-income students or educational entities intended for scholarships. , non-profit entities dedicated to care for people with disabilities, people with catastrophic illnesses, comprehensive cancer care and more. This list of deductions includes donations from private companies for equipment for the National Police to fight crime and organized crime.