Through Resolution No. NAC-DGERCGC24-00000009 of March 15, 2024, the Internal Revenue Service issued the rules for the declaration and payment of Temporary Security and Profit Contributions of Banks and Savings and Credit Cooperatives (CTBC) in the following terms:

Temporary Security Contribution
Obligated subjects: Companies with tax residence in Ecuador, including mixed economy companies, and permanent establishments of foreign companies in Ecuador.

Generating event: Having recorded profits taxed with Income Tax in fiscal year 2022.

Tax base: Profit taxed with Income Tax in fiscal year 2022, registered in box 836 of the corporate Income Tax form in said period.

Rate: 3.25% for the contribution to be paid in 2024 and 3.25% for the contribution to be paid in 2025.

Declaration: Through form 124, until March 31, 2024 and March 31, 2025, regarding the contribution for each of these periods.

Canceled companies: Companies that have been canceled until March 12, 2024 will not pay this contribution.

Advance payment: Those companies that are going to be canceled before the payment dates of this contribution must satisfy this obligation in advance.

Control: In the event that a determination process results in a higher taxable profit for fiscal year 2022, said amount must be considered to recalculate this contribution. In case of late payment or non-payment, interest and penalties will be applied.
Temporary Contribution to the Profits of Banks and Savings and Credit Cooperatives
Obligated subjects: Banks and Savings and Credit Cooperatives, residents or domiciled in Ecuador.

Generating event: Having registered profits taxed with Income Tax in fiscal year 2023.

Tax base: Profit taxed with Income Tax in fiscal year 2023, registered in box 836 of the corporate Income Tax form in said period.

Rate: Between 5% and 25% according to the amount of the taxpayer's annual net profits.

Declaration: Through form 124 until May 31, 2024.

Canceled companies: Companies that have been canceled until March 12, 2024 will not pay this contribution.

Advance payment: Those companies that are going to be canceled before the date of payment of this contribution, must satisfy this obligation in advance.

Control: In the event that a determination process results in a higher taxable profit for fiscal year 2023, said amount must be considered to recalculate this contribution. In case of late payment or non-payment, interest and penalties will apply.