President of Ecuador announces 15% tax on sports betting

A proposal for tax reform has been released by the president of Ecuador with the goal of strengthening the South American country's fiscal situation and economic recovery.

In accordance with the Ecuadorian Constitution, the proposal, which he personally drafted and which is part of an "urgent economic project," will be presented to the National Congress of Ecuador for review within 30 days.
He aims to modernize Ecuador's current tax structure by putting forward a novel "point-of-charge" tax on online transactions that targets sports betting, a market that has experienced rapid expansion in recent years.

 

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The president of Ecuador has introduced a tax reform proposal aimed at improving the nation’s fiscal stability and economic recovery. The plan, categorized as an "urgent economic project," will be submitted to the National Congress within 30 days. It includes a novel tax targeting online transactions, specifically focusing on the fast-growing sports betting sector. This reform seeks to modernize Ecuador’s tax system while leveraging revenue from expanding digital markets to support the country’s economic resilience.