You should also note that the Asset Annex for 2022 will be due in May of 2023.
According to our Ecuadorian constitution, all residents of Ecuador, temporary and permanent regardless of their country of origin, have the same rights and obligations as Ecuadorians. This applies to tax benefits as well as tax filing. In May of each year the Asset Annex is due – this is not new – and it has nothing to do with the tax information agreement signed between Ecuador and the US back in 2021.
However, having this agreement means that Ecuador can legally request financial and tax information from the US if it feels the need to do so.
Who should file? All Ecuadorian residents who had assets in Ecuador and abroad from Jan 1, 2021 to December 31, 2021, including property inside and outside of Ecuador, all investments and bank accounts inside and outside of Ecuador of $200,000 or more; $400,000 for married couples.
Due date – Normally, this must be filed in May but the SRI has granted an extension for filing to December 2022 as a one-time exception. The day depends on your ninth cedula digit. This filing does not mean you have to pay taxes on the amounts you are reporting. But, if you do not file the Asset Annex for 2021, you can be fined by the SRI for not reporting.
For questions, don’t hesitate to contact me
099 619 1775