GringoPost | Cuenca, Ecuador: New taxes passed by the Assembly and made official

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New taxes passed by the Assembly and made official

FYI

1) Tax on Cigarettes: old tax 0.131 per cigarette, new tax 0.16 per cigarette: (22% increase)
2) Incentives to use Electronic Money: old tax: 0%, New Incentive: devolution of 2% of the IVA if the bill is paid electronically. (Credit Card / Debit Card / EFT)
3) Alcohol: Old Tax $7.24 per liter of alcohol content. New Tax $12 per liter of alcohol content. So, for example, a liter bottle of liquor with, say, 40% alcohol by volume used to pay $2.90, will now pay a new tax of $4.80 per bottle. (a 65% increase). The tax on a half-liter bottle of beer will go up from $1.05 to $1.18, however if you pay with your CC or Debit card you get back 2% of the IVA (see above)
4) Sodas and sugared soft drinks: Old Tax: 10% per each 25 grams of sugar content per liter. New Tax: $0.18 per each 100 grams of sugar in each liter. (Juices and Energy drinks are excepted)
5) Purchase of automobiles by handicapped persons: Old Tax: Tax exempt for a value of up to $ $43,200. New Tax: Tax exempt for up to $21,960.
6) IVA returns for 65-and-over Seniors and Handicapped with 40% or more: Old amount; Maximum of $219 per month. New amount: Maximum of $87.84 per mo.
7) Limits on Currency Exit Tax: Old limit: a maximum of $11,170 Tax free cash could be carried out of the country. New Limit: Maximum of $1098 cash can be carried out of the country per adult traveler, plus $366 per each accompanying minor.
8) Money EFT Transfers from Ecuador to abroad: Old limit: $1000, twice per month, tax free. New Limit: $1098 Tax Free (not specified how often but probably per month.) Foreign transfers for student’s tuition and expenses are exempt.

Bobette: bobettejane@yahoo.com

City: Cuenca