On March 31 2026 the Ecuadorian SRI issued a resolution that changes how dematerialized tax credit notes are handled. The new rules allow taxpayers to use up to 60 % of the amount payable on a tax return from credit‑note balances, except for Foreign Currency Outflow Tax (ISD) credits, and they remove the possibility of using credit notes to settle customs duties. Credit‑note balances will now appear in the securities account statement on the SRI portal.
Up to 60 % of the payable amount, except for ISD credits.
No, the limitation does not apply to ISD‑related credit notes.
In the securities account statement available on the SRI online portal.
No, the possibility of using them for customs tax obligations has been eliminated.
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Fintua · about 2 months ago
Ecuador announced a temporary reduction of the general VAT rate for tourist services from 15% to 8% during the New Year holiday period (1–4 January 2026). The reduced rate applies to a wide range of tourist activities defined under Article 5 of the Tourism Law, including accommodation, food, entertainment, transport, and event services.
Sovos · 6 days ago
AI sales tax blog post discusses how U.S. states are treating SaaS and AI chatbot services under existing sales tax frameworks. It highlights recent rulings in Kentucky, Indiana, Maine, and New York, noting that some states tax SaaS as a service while others exempt it. The article also explores potential future tax implications for AI‑powered physical products and advises businesses to monitor state developments closely.
International Tax Review · 9 days ago
The article explains how Brazil’s new nationwide consumption tax, the IBS, replaces state and municipal taxes, marking a significant shift in governance and operational logic. It highlights the implications for municipalities and the broader tax system, underscoring the paradigm shift in Brazil’s indirect tax regime.
International Tax Review · 14 days ago
Chile’s new administration announced a proposal to temporarily suspend VAT on residential property sales for one year, aiming to revive a stagnant housing market. The measure could lower final housing prices by 3‑8%, but input VAT on construction costs would become non‑creditable and must be capitalised. Its success hinges on congressional approval and swift implementation.
VatCalc · 15 days ago
Argentina has reduced the VAT on electricity used in agro‑industrial irrigation systems to 10.5% effective 1 April 2026, cutting the standard 21% rate in half. The measure, part of the Labour Modernisation Law, targets energy consumption linked to irrigation to lower input costs for farmers and support export competitiveness.
Eye Witness News · 23 days ago
The Bahamas government will exempt all unprepared food items from VAT effective 1 April 2026, giving consumers zero VAT at the point of sale. Merchants have a three‑month window to adjust their point‑of‑sale and accounting systems, and the exemption means importers and retailers cannot claim input credits. The move follows earlier VAT rate cuts and aims to reduce consumer costs and administrative complexity.
