Ecuador’s government is interested in attracting investment for development of sectors categorized as strategic by the Constitution, including energy, telecommunications, nonrenewable natural resources, oil and gas refining, and water.
Specific legislation has been created to foster local and foreign private investment, including, for example, the Production Code, which contains a series of tax benefits for investment projects, including exemptions and reductions on taxes and other contributions.
The Code was enacted in 2010 but has been amended on various occasions. The latest amendment, in May 2015, introduced additional incentives in rules on tax stability for investments, investment agreements, and special economic development zones (which will benefit from tax and other exemptions) applicable to specific sectors of interest.
Additionally, supplementary rules have been passed to regulate and facilitate investment, including Executive Decree 508 of February 2015, which enacts the Public-Private Partnership Regime Regulations, which, among other things, provides benefits for private investors proposing investment initiatives.
José Urizar: email@example.com