Guillermo Lasso, President of Ecuador, has published a tax reform proposal aimed at improving the economic recovery and fiscal standing of the South American nation.
Personally drafted by Lasso, the proposal forms part of an ‘urgent economic project’ and will be put forward to the National Congress of Ecuador, who will be given a 30-day period to review the proposal in line with the Ecuadorian Constitution.
Lasso seeks to revamp Ecuador’s existing tax framework by proposing a unique ‘point-of-charge‘ tax on digital transactions specifically targeting sports betting – a sector that has seen substantial growth in recent years.
This tax will affect both domestic and international sports betting operators, regardless of whether their businesses are domiciled in Ecuador.
