SRI extends the deadline until November 2016 for the presentation of “Multiple Declaration Form (Form 120)” which applies to both solidarity contributions: on property and real estate and representative rights of existing capital in Ecuador owned by resident companies in tax havens or other jurisdictions outside.

Compliance with this obligation is extended to November 2016, which must take place in the new deadlines according to the ninth digit of the RUC, even if the information concerning the above contributions already has been filed previously.

When a due date coincides with mandatory rest days or holidays, that duet date will move to the next business day. In the case of foreigners who do not subscribe to the RUC, nor possess identity card, the presentation of information is authorized from 07 to 28 November 2016.

Special Rules for solidarity wealth tax; when the tax base to be reported on Form 120 is less than one million (USD $1,000,000) dollars of the United States of America:

– The taxpayers may meet as substitutes.
– Natural persons, residents or not in Ecuador, members of non-resident companies subject to the tax on real estate and rights representing capital …in this sense, such companies which are exonerated wholly or partly of such contribution, must include in the declaration of the tax on wealth information on real estate and / or existing capital representative rights in Ecuador owned by these companies, according to their percentage.

Source: TAO Group ADVISORS