News Story - July 10, 2021

Ecuadorian import tariffs for 667 products will be eliminated or reduced

Johan Klok

From August 1, 2021, 667 products will have lower import tariffs in Ecuador. Some examples:\r\nCamcorders and digital cameras: from 25% to 5%. Communication equipment and computers: 0%.

The tax sacrifice to implement the tariff reform is USD 180 million. Of the 667 items, 590 will have a 0% tariff; 30 items will have a reduction to 5%; 20 items a reduction to 10%; and the rest of the items will have tariff reductions to a tariff between 15% and 25%.

With this new measure, the Ecuadorian government hopes to improve the quality of life of Ecuadorians and strengthen the agricultural and industrial sectors' competitiveness.

Source: El Comercio.