Ecuador's Internal Revenue Service (SRI) has issued Resolution No. NAC-DGERCGC21-62 of 30 December 2021, which establishes the rules for the declaration and payment of the temporary special contribution tax on assets. The special contribution tax was introduced by the Law for Economic Development and Fiscal Sustainability after the COVID-19 Pandemic as follows:

• For natural persons with assets of at least USD 1 million as on 1 January 2021, the contribution is equal to 1.0% on assets between USD 1,000,000 and 1,999,999.99 and 1.5% on assets of USD 1.2 million; and
• For companies with net assets of at least USD 5 million as on 31 December 2020, the contribution is equal to 0.8% on assets of USD 5 million or more.

For the purpose of the special contribution tax, the resolution approves a new form for declaration and payment, Form 126, which is available on the SRI website (www.sri.gob.ec). The tax must be paid by individuals in fiscal year 2022 and by companies in fiscal years 2022 and 2023. The deadline for declaration and payment in 2022 has been set to between 28 and 31 March 2022. For 2023, the deadline is between 1 January to 31 March. Where a company is liquidated between 29 November 2021 and 31 March 2022, it is provided that the special contribution tax must be paid in advance for 2022 and 2023.