Tax Compliance Obligations
Legal Review of Tax Compliance Obligations
Our advisory services include:
- Annual income tax determination
- Review of monthly value added tax (VAT), special consumption tax (ICE), and income tax returns.
- Review of annexes to tax compliance reports and to VAT and income tax withholding returns.
We verify and evaluate the performance of tax obligations by taxpayers pursuant to the current Ecuadorian tax legislation, binding resolutions and circular letters issued by the Internal Revenue Service (SRI), and other legal provisions that need to be observed.
Performance of tax obligations by Ecuadorian and foreign individuals
We provide advice to local and expatriate independent individuals and officers on compliance with tax provisions and requirements and application of alternatives under tax laws and procedures to optimize their tax burden.
Legal and Tax Planning
We assist our clients in tax planning matters. This includes the generation of alternatives for optimization of tax costs under applicable tax laws and procedures.
Legal and Tax Due Diligence
We determine any potential tax contingencies resulting from acquisitions of companies or lines of business pursuant to our clients’ requirements.
Sponsoring Routine Petitions
We provide assistance to our clients in:
Preparing petitions to tax authorities regarding matters such as undue payment, excess payment, and others.
Preparing and submitting responses to tax authorities in the event of:
- Notices of sanction
- Notices of closing
- Notices of failure to file tax returns
Support for Inspections
We provide:
- Legal/tax/financial assistance to our clients in relation to inspections carried out by tax authorities
- Assistance to prepare supporting documentation for inspections
- A link between the tax authorities and our clients.
Comprehensive and Ongoing Advice and Training
These advisory services are provided when required by our clients and comprise accounting, business, labor, corporate, customs and tax matters, clearing up concerns, and attending to information requirements for the purpose of precluding or reducing tax contingencies and potential economic penalties and ensuring the proper application of business policies and processes.
As concerns training, we prepare and deliver courses on tax and customs matters in accordance with our clients’ requirements.
Tax Newsletter
Every time the authorities issue a rule or a circular letter that affects or may affect taxpayers, a newsletter containing comments on the new legal provision will be sent to clients.
