Internal Revenue Service Tightens Controls on Plastic Bottle Recycling in Ecuador
2024-08-09 07:19:44
The Internal Revenue Service (IRS) of Ecuador has intensified controls on PET plastic bottle processing companies in the country. These controls are aimed at ensuring compliance with the Redeemable Tax on Plastic Bottles (IRBP) regulations.
According to the IRS Director General, Damian Larco, companies must comply with certain requirements to be eligible for the IRBP refund. These requirements include:
Valid registration issued by the Ministry of Industry and Productivity
Up-to-date tax obligations
Submission of minutes of delivery and receipt of bottles and plastics with weighing records
Submission of sales receipts or customs declarations of processed and exported material
* Compliance with relevant tax obligations
Companies that fail to comply with these requirements may face the temporary suspension of their agreement to access the IRBP refund.
In the past six months, the IRS has refunded nearly USD 17 million to six companies located in Quito, Guayaquil, and Montecristi. These are the only companies registered to receive this benefit.
The IRS plans to continue conducting controls to ensure the correct compliance with tax regulations by recycling companies. This action aims to maintain transparency and efficiency in the management of fiscal resources allocated to the recycling sector in Ecuador.