Expat Community > Ecuador

carolannemck
Joined 2008
Posts: 303

Capital gains tax in Ecuador

15 years ago

I have been doing some research on capital gains tax in Ecuador because I am in the process of selling a small house I recently built. From the information I have found, a person pays capital gains on the difference in the assessed value of the property and the purchase price. It does not appear to take into consideration what a person has put into the property or what a person actually paid for the property. Is this still the case of have things changed?
This does not bode well for those people who try and keep the assessed value under what they actually paid for their property. I know this happens frequently in my neck of the woods; a speculator will say to the buyer that they will tell the tax office that the property sold for $25,000 when it actually sold for $50,000 to supposedly keep the taxes down. Looks like this just might bite some people down the road.
Carol

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Expat Community > Ecuador

Capital gains tax in Ecuador

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