⚡️Ecuador🇪🇨: a new profit tax for bookmakers has come into effect.

⚡️Ecuador🇪🇨: a new profit tax for bookmakers has come into effect.

The Internal Revenue Service (SRI) of Ecuador announced that starting July 1 of this year, a single income tax will be levied on the profits obtained by sports betting operators.

➡️ The new measure stems from the so-called *“Organic Decree-Law on Strengthening Family Economy”*, which was the latest tax reform carried out by the far-right ex-president Guillermo Lasso (an interesting figure—an administrator by training, and a banking specialist. We'll write more about him someday).

➡️ ... but let's not digress: the tax imposes a 15% rate on the profits obtained by sports forecasting operators, both residents and non-residents.

➡️ However, operators can deduct from these profits the prizes paid, provided they have made the appropriate withholding at the source.

➡️ Player prizes are also subject to a 15% income tax, which will be withheld and paid to the Treasury by the operators.

➡️ NON-RESIDENT OPERATORS can find the procedure for applying for registration in the “Single Taxpayer Registry” (RUC) on the SRI website. Without it, nothing can be done.

#news #Ecuador #betting

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