On 5 August 2026, the SRI reported that total sales declared by taxpayers in July 2026 reached USD 25.6 billion, representing a 16.7% increase compared to July 2025. The growth is attributed to government economic policies under President Daniel Noboa, including tax incentives for formalization and increased enforcement against tax evasion. The data reflects robust domestic consumption and improved tax compliance across sectors.
Key Takeaways
- Revenue Surge: The 16.7% sales growth translates directly into higher VAT and income tax collections, strengthening fiscal buffers for 2026.
- Formalization Impact: New taxpayer registrations rose 12% year-to-date, broadening the tax base and reducing informality.
- Sectoral Performance: Commerce, manufacturing, and services led growth, while construction showed moderate recovery.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement