On 16 June 2015, the Ecuador tax administration published Resolution No. NAC-DGERCGC15-0044 concerning the annual municipal business license (Impuesto de Patentes Municipales) tax for companies engaged in commercial, industrial or other economic activities. The tax applies annually at a rate of 1% on a company's subscribed capital according to their tax registration. Companies that have not paid the tax following registration are allowed a temporary business license for a maximum of three mon…