PBy Atty. Gabriel Pinto Navarrete
Head of the Tax Department
On March 22, 2023, the Ministry of Production, Foreign Trade, Investment and Fisheries (MIPRO) issued new guidelines for the labeling of products subject to the 12% VAT rate (see Ministerial Agreement No. MPCEIP-MPCEIP-2024-0038-A).
Guidelines for suppliers and distributors
This measure authorizes
Suppliers
Distributors
Marketers
of industrialized goods and products to use labels showing the 12% value-added tax (VAT) until their stocks are exhausted, within a maximum period of 180 days, starting from April 1, 2024.
Consumer information Obligations
It is imperative that suppliers, distributors and marketers implement adequate and timely means of information to ensure that consumers are fully informed of the final prices of products from the beginning of this period.
This announcement is of paramount importance for Ecuador's commercial ecosystem, ensuring transparency and compliance in the presentation of prices to consumers, in accordance with the latest tax changes.
At Meythaler & Zambrano Abogados, we are committed to providing the highest quality legal services. If you need more information or assistance on how this legislation affects your business, please contact us. Our team is ready to assist you.
