The Internal Revenue Service (SRI) in Ecuador has a list of officially licensed sports betting operators in the country. According to the director of the entity, Damián Larco, there are currently 65 companies which are now registered. However, the total number of operators is much larger he said.
The official indicated that out of this total, two are foreign companies and 63 are domiciled in Ecuador. He added that the first half of 2024 was given for companies engaged in this activity to register in the sports betting registry.
As of July 1st, Ecuador implemented a flat income tax for sports betting operators. The tax applies a 15% rate to the revenues of operators, both residents and non-residents in Ecuador. This tax originated from the Organic Law Decree for the Strengthening of Family Economy, the latest tax reform implemented by the government of Guillermo Lasso. However, the implementation date was postponed after the new president came to power and the tax was to be applied starting July 1st.
On July 31st, the SRI issued a resolution establishing deadlines and procedures for declaration, rules for issuing sales and withholding receipts, and requirements for registration in the Unique Taxpayers Registry (RUC) for the implementation of the flat income tax.
For those who have not yet registered, the director of the SRI stated that they will carry out controls because failure to comply not only leads to tax evasion, but also to unfair competition with those who have registered. In the face of this situation, he indicated that through the relevant entities, the IP address of sports betting operators who have not registered will be suspended or blocked.