Espirales. Revista multidisciplinaria de investigación científica, Vol. 8, No. 49
April - June 2024 e-ISSN 2550-6862. pp 50-72
DOI https://doi.org/10.31876/er.v8i48.864
Tax reforms and activity indicators in the aquaculture
industry in the province of Santa Elena, 2018 - 2022
Reformas tributarias e indicadores de actividad en la industria acuícola de la
provincia de Santa Elena, 2018 – 2022
Joselyn Tatiana Muñoz López *
Miguel Ganchozo López *
Received: January 09, 2024
Approved: March 12, 2024
Abstract
This article aims to evaluate the impact of tax reforms on the activity
indicators of the aquaculture industry in the province of Santa Elena, period
2018 - 2022. Several techniques and tools were used to analyze the business
sector, highlighting the importance of financial evaluation, and tax planning
in business decision making; in addition, the relationship between income
tax data and previous regimes was analyzed. A descriptive type of research
was used in the study by means of the desegregation of variables, which also
allowed the situational diagnosis, on the other hand, correlational research
was used by means of the analysis of indicators to analyze the variables of
interest.
Keywords:
Tax incentives, activity indicators, tax planning, tax reform,
corporate profitability.
* Bachelor in Accounting and Auditing
graduated from Santa Elena Peninsula State
University, Master in Accounting and Auditing
from Universidad Península de Santa Elena,
currently is Owner Manager of Contafinanzas.
Joselyn.munoz@upde.edu.ec
Orcid.org/0009-0008-2394-1125
* PHD in Accounting, Master in Integral
Auditing, Engineer in Auditing and Certified
Public Accountant; Undergraduate and
Postgraduate Teacher; Master's and
Undergraduate Thesis Tutor; Writer of
scientific articles.
Miguel.ganchozo@upse.edu.ec Universidad
Península de Santa Elena. Orcid.org/0000-
0001-6112-5454
Muñoz, J., Ganchozo, M. (2024)
Reformas tributarias e indicadores
de actividad en la industria acuícola
de la provincia de Santa Elena,
2018-2022. Espirales Revista
Multidisciplinaria de investigación
científica, 8 (49), 50-72
Joselyn Tatiana Muñoz Lopez , Miguel Ganchozo Lopez
Espirales. Revista multidisciplinaria de investigación científica, Vol. 8, No. 49
April - June 2024 e-ISSN 2550-6862. pp 50-72
51
Introduction
Cabrera (2021) indicates that the analysis of financial ratios is a strategic tool in
organizations, allowing the visualization of ratios such as: indebtedness, solvency,
liquidity and profitability. These indicators are necessary for making decisions related to
profitability, since comparisons can be made between fiscal years, which helps financial
analysis in companies where annual production is variable, as in the case of shrimp
companies.
Proper financial management focuses on the correct allocation of monetary resources
from various sources such as shareholders, bank loans, among others. Due to the nature
of the business line of shrimp companies, they must invest in land and technologies that
require a solid financial control, which is a weakness that affects the preparation of
budgets and financial projections, putting at risk the attraction of new investors, and not
being sufficiently prepared before the control agencies (Brigham and Ehrhardt, 2018).
According to Chávez and Gamboa (2017) in the Latin American context, three important
aspects are addressed: processes that help to correctly analyze financial indicators,
strategy formulation, and external diagnosis and implementation of strategies. These
aspects, ranging from contributing to job growth to achieving sustainable growth, help
to identify indicators that do not favor the company and can lead to its extinction.
In Latin America, there is concern regarding the tax systems used in the countries of the
region Baquerizo (2022). These systems, for the most part, fail to effectively address
disparities in income and expenditures, which perpetuates inequality gaps Altamirano
(2017). Moreover, depending on the type of government, there is a tendency to make
populist decisions in this area, either by reducing or increasing tax collection through
poorly informed reforms, which does not contribute to establishing a fair balance in this
aspect. In Latin America, the marine aquaculture sector, according to Dávila et al. (2020)
is an important representative of world food production, constituting a food source of
protein, employment and income, produced mainly in Asia, Central and South America,
Resumen
El presente artículo tiene como objetivo evaluar la incidencia de las reformas
tributarias en los indicadores de actividad de la industria acuícola en la
provincia Santa Elena, período 2018 - 2022. Se emplearon varias técnicas y
herramientas para analizar el sector empresarial, resaltando la importancia
de la evaluación financiera, y la planificación tributaria en la toma de
decisiones empresariales; además, se analizó la relación entre los datos del
impuesto a la renta y los regímenes anteriores. En el estudio se empleó una
investigación de tipo descriptiva mediante la desegregación de variables,
además permitió realizar el diagnóstico situacional, por otro lado, se empleó
la investigación correlacional mediante el análisis de indicadores para
analizar las variables de interés.
Palabras clave:
Incentivos tributarios, indicadores de actividad, planificación
tributaria, reforma tributaria,
Tax reforms and activity indicators in the aquaculture industry in the province of Santa Elena, 2018 - 2022.
Espirales. Revista multidisciplinaria de investigación científica, Vol. 8, No. 49
April - June 2024 e-ISSN 2550-6862. pp 50-72
52
generating wealth, development and economic growth in the countries where this
activity is developed.
In the Ecuadorian provinces where this type of activity is developed, León et al. (2020)
indicate that it has been strengthened by distributing a high value product in both
national and international markets, so that shareholders in this sector have decided to
invest in planting land together with the implementation of advanced technology, thus
achieving better yield and quality.
However, the National Chamber of Marine Aquaculture states that the production of
Ecuadorian shrimp is 24% more expensive compared to the costs of 2021 (CNA, 2023),
reports that there are important factors such as the elimination of the deferred price of
diesel that makes the production of this crustacean more expensive by 0.16 cents per
pound, which affects 82% of companies engaged in marine aquaculture. To this should
be added that the leaders of different guilds in this sector state that during the
presidency of Guillermo Lasso, Executive Decree 614 seeks to reduce diesel subsidies,
but this reduction affects both small and medium shrimp farmers in the country, as
reported by El Universo (2022).
The increase in production costs of this crustacean is due to the increase in security
measures. El Universo (2023) states that there are losses of approximately $150,000 due
to criminal acts. This research focuses on the analysis of tax reforms and activity
indicators of the aquaculture industry in the province of Santa Elena, since the main
industry in this sector is the shrimp industry. The shrimp sector is one of the most
important for Ecuador, since its economic income represents 24.8% of exports. Given
the high demand and acceptance of the shrimp product, its relevance at the national
level is constantly growing.
At the local level, companies located in the province of Santa Elena are affected by tax
reforms to the point that they can increase or decrease their taxable base for IR income
tax, as there have been countless changes and reforms in recent years. For Rodriguez,
(2018), the impacts due to tax reforms have generated discomfort in taxpayers mainly
due to the constant modifications and reforms that, from his point of view, are not
implemented with an adequate socialization or training process by the Internal Revenue
Service of Ecuador (S.R.I) as there are gaps in the knowledge of law in the liquidation of
taxes, especially in the tax declaration that is triggered by the taxpayers when omitting
these tax obligations that in many occasions lead to fines and sanctions by the control
body.
The shrimp industry is one of the most important for the province of Santa Elena, for the
local economy represents one of its major sources of income. However, it also feels the
effects of the tax law, affecting them negatively. According to data provided by the
Internal Revenue Service of Santa Elena in the year 2020, most of the small and medium-
sized companies became part of the micro-enterprise regime, while by the year 2022
many of them became part of the general regime, acquiring more obligations. Only a
few accounts managed to remain in the previous regime, which makes the owners of
this business sector feel uncertainty due to the constant changes in the tax law, affecting
Joselyn Tatiana Muñoz Lopez , Miguel Ganchozo Lopez
Espirales. Revista multidisciplinaria de investigación científica, Vol. 8, No. 49
April - June 2024 e-ISSN 2550-6862. pp 50-72
53
their financial ratios, which are not constant, nor do they remain balanced between the
different fiscal periods (Valladares et al., 2021).
Cordoba (2017) indicated that, at the national level, there have been changes in tax
reforms and the implementation of new regimes since 2017 when the income tax was
increased from 22% to 25%, applicable to income generated by corporations and
creating some benefits to other taxpayers. In 2019 with the arrival of the COVID-19
pandemic, the micro business regime was created, which directly affected micro and
small businesses. For the year 2021 a new regime called RIMPE (tax regime for micro
and popular businesses) was implemented, which led to the elimination of the RISE
taxpayer (simplified tax regime). Against this background, shrimp companies in Ecuador
must be prepared for changes in tax policies in the face of possible changes related to
external factors or the arrival of a new government.
As indicated by Brigham and Ehrhardt, (2022), the dynamics of tax reforms in Ecuador
began in 2009, it was an economic measure in the face of the fall in the price of a barrel
of oil in international markets to adjust this income (Calvo, 2019). The executive branch
established new tax reforms that would help sustain the debt and acquired public
spending, in addition to the absent foreign investment in the country, were the causes
that led to the applicability of these measures that sought to restore the country's
economy at the time. For the year 2018, the Organic Law for the productive promotion
was created and approved, attracting investments, employment generation, and
stability in the fiscal balance; where one of its main objectives was the exoneration of
the income tax income tax from 8 to 15 years to investments made to productive sectors
considered as priority.
Consequently, in 2019 the Organic Law of Tax Simplification and Progressivity was
launched, which entered into force in the fiscal year 2020, which modified the system of
advance payment of income tax. The micro-entrepreneurial regime was established for
taxpayers with income over $300,000, both laws generated confusion in the taxpayer
due to the fact that in the country the tax culture is still weak and in some cases there is
tax rusticity, which makes these laws far from simplifying the tax liquidation to be
confusing and ambiguous.
According to Sánchez and Lazo (2023), after the arrival of the COVID-19 pandemic, the
Executive approved the Law for Humanitarian Support (2020), which did not mean major
changes for income tax purposes, since it established the voluntary prepayment of this
tax. However, Executive Decree 1109 (2020) was issued, which obliged legal entities to
collect income tax, generating discomfort in these taxpayers who were just relating to
the law issued in 2019. Two years after the Organic Law for Tax Simplification and
Progressivity was restructured, it was replaced at the end of 2021 by the Organic Law
for Economic Development and Fiscal Sustainability, among the main reforms were the
elimination of the RISE and Micro-entrepreneurial regimes, merging into a single one
called RIMPE Simplified Regime for Entrepreneurs and Popular Businesses.
According to Baquerizo (2022), tax reforms are mechanisms sought by governments to
modify a previously established process, which through a reform project the executive
Tax reforms and activity indicators in the aquaculture industry in the province of Santa Elena, 2018 - 2022.
Espirales. Revista multidisciplinaria de investigación científica, Vol. 8, No. 49
April - June 2024 e-ISSN 2550-6862. pp 50-72
54
branch has the power to establish. The tax reform is of public interest, whose purpose is
to seek the financing of projects by obtaining income or specific benefits for a business,
social or environmental sector. On the other hand, taxes are mandatory taxes paid by
taxpayers, individuals and legal entities to the active subject represented in the State,
whose income is used for public management reflected in the various works carried out,
in addition, they also serve to support the national economy in the event of a global or
national event that threatens the economic health of a country.
According to the authors Navarro et al. (2018), it is essential to understand the political
and economic realities prevailing in the society of the country in which the research
variables are analyzed: the economic impact at the national level and the RIMPE regime.
The implementation of this new regime has a significant positive effect on the country's
economy, since its main purpose is to increase the registration of taxpayers, without
leaving anyone out, which contributes to Ecuador's economic development by
increasing the sources that contribute to its economy. The simplified regime for
entrepreneurs and popular businesses (RIMPE) has been conceived with the purpose of
ensuring greater compliance with the tax obligations imposed on taxpayers.
According to Sanchez and Lazo (2023) the Tax Regime for Entrepreneurs and Popular
Businesses benefits entrepreneurs because it helps them to have a better management
in terms of cash flow, liquidity, profitability and tax reduction, under this context several
countries have adopted different strategies through regulations to regulate taxpayers
called small businesses, in this sense the RIMPE regime in force in Ecuador seeks the
optimization in the collection of taxes by most taxpayers in a simplified and faster
environment.
Table 1.
Income Tax RIMPE Regime
From
Basic Fraction
Marginal Tariff
$ 0,00
$ 60,00
0 %
$ 20.000,00
$ 60,00
1 %
$ 50.000,00
$ 360,00
1,25%
$ 75.000,00
$ 672,50
1,50%
$ 100.000,00
$ 1.047,20
1,75%
$200.000,00
$ 2.797,52
2,00%
Note: Data obtained from the Internal Revenue Service.
The simplified regime for entrepreneurs and popular businesses was created under the
organic law for economic development and fiscal sustainability. It came into effect
through Resolution No. NAC-DGERCGC21-00000060 as of January 1, 2022 with a 3-
year term, whose tax collection scheme follows the provisions set forth in Table 1.
According to Baquerizo (2022), he argued that tax and financial incentives are very useful
for SMEs of any business sector, because they contribute to the development and
growth in terms of profitability, which is a matter of interest in management issues.
Joselyn Tatiana Muñoz Lopez , Miguel Ganchozo Lopez
Espirales. Revista multidisciplinaria de investigación científica, Vol. 8, No. 49
April - June 2024 e-ISSN 2550-6862. pp 50-72
55
According to the theory of economic incentives, it states that small industries are taxed
according to their net income and do so progressively according to the profitability
obtained.
The State is in charge of enacting tax and financial incentives, through compensations
in the different returns obtained by the business sector, by means of incentives that have
been previously planned and justified. In this sense, it is important to indicate that the
large differences in the profitability generated, regardless of the type or branch of
industry to which the companies belong, are explained by the circumstances and
conditions under which they operate and generate their income. (Amado, 2021).
These scenarios are sometimes complex for certain taxpayers; they are the ones that the
State seeks to benefit and protect under legal provisions of a tax nature, in order to
temporarily reduce the tax burden, assuming this benefit as a tax expenditure. Brigham
and Ehrhardt, (2022) indicated that tax benefits are the incentives granted by the State
with the objective of helping entrepreneurs to achieve their goals and business growth
in economic and social matters. The effects of these incentives imply for the State a
decrease in tax collection, as well as an increase in tax collection costs, and they must
be applied in a correct and articulated manner in order not to reduce tax equity and to
ensure transparency in the tax reimbursement system.
Tax benefits are classified into two groups: the first are those that generate objective
exemptions and the second is that which seeks to protect and stimulate certain
productive activities of a given region or business sector (Navarro et al., 2023). In both
scenarios it is important to identify to which part of the tax incentive mechanism they
belong according to the law, in order to ensure the benefit to the right taxpayers.
Based on Calvo (2023), the predominant tax concepts may change depending on the
tax environment and encompass a diversity of ideas. Among the most common tax terms
are:
Deduction: Incentives based on deducting from the pre-tax profit certain items such as
expenses generated to obtain income, allows reflecting a better net profit and reducing
its taxable base for income tax or similar. Deductions such as these are typified in the
Organic Law of Tax Regime.
Exemption or exoneration: These are certain economic activities that generate income,
but are taxed for a specific reason determined by the Law. This helps taxpayers to enjoy
greater liquidity after the payment of tax in a given fiscal period.
Reduction: This tax benefit has to do with the decrease of percentage points from 25%
to 22% of the income tax rate. Such exclusion occurs when the tax administration
decides under certain specific assumptions to leave out of the scope with respect to the
provision of any rule.
Tax credits: Relieves some taxpayers temporarily on activities such as investments and
payment of labor of amounts generated. These deductions are applicable to certain
priority business sectors.
Tax reforms and activity indicators in the aquaculture industry in the province of Santa Elena, 2018 - 2022.
Espirales. Revista multidisciplinaria de investigación científica, Vol. 8, No. 49
April - June 2024 e-ISSN 2550-6862. pp 50-72
56
Deferral: This incentive has to do with companies where it is indicated that companies
that have 5% of their capital stock represented by their workers will be benefited in
deferring the payment of income tax and its advances.
Garzón (2022) emphasized that for the industries and business sectors, having tax
incentives from the state implies the benefit of several aspects, such as the following:
• Increased tax revenues due to possible higher investment and growth
• Tax benefits: according to its legal basis, it allows companies to be exempt from
certain taxes.
• Creation of new businesses: eradicating unemployment and therefore poverty.
• Product diversification: existence of diverse products that can be exported or
substitute imports.
• Diversification of new companies: through the creation and diversification for the
development of strategic sectors for a State.
• Science and technology development: which derives from the generation of new
companies and products, which require knowledge to create sophisticated
technology.
• Other potential social or environmental benefits depending on the incentive
However, even though there are benefits such as tax incentives aimed at companies,
these often lack technical knowledge about the tax rules that cover them, because
managers do not invest in training, but hire professional experts that allow them to make
a proper tax and financial planning, which would become a strength for decision making;
which are the generators of wealth and employment, according to I.N.E.C. the
commercial sector with 37.72%, the service sector with 25.14% and the manufacturing
sector with 20.97%, these three sectors together represent 83.83% of sales generated
in the country.
The tax incentives applicable to the aquaculture sector are detailed below:
Table 2.
Incentives in the aquaculture sector
Tax
Legal Basis
Purpose of
incentive/benefit
Nature of
incentive/benefit
Type of
incentive/
benefit
Fiscal policy
objective
Income Tax
LRTI-37
22% corporate
income tax rate
(reduction of 3
points with
respect to the
current rate for
2010).
Incentive
Reductions
Deductions
Product / E m p l o y
m e n t Matrix
Savings/Investment
Income Tax
R A L R T I -
28.6.c
Accelerated
depreciation of
fixed assets
Incentive
Accelerated
depreciation
Production
matrix/
Employment
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April - June 2024 e-ISSN 2550-6862. pp 50-72
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Income Tax
LRTI-10.9
Additional
deduction of
100% of salaries
and social
benefits for net
increase in
employment.
Direct hiring of
workers
I n c e n t i v e
Benefit
Deductions
to obtain
taxable
income
Production
matrix/
Employment
Income Tax
LRTI-37
10-point
reduction in the
rate applicable to
the amount of
profits reinvested
in the country for
productivity
improvements
Incentive
Reductions
Product / E m p l o y
m e n t Matrix
Savings/Investment
Taxes-
to motor
vehicles
TRT
41/20017b
80% rebate on
vehicles of one
ton or more that
are used
exclusively in
productive or
commercial
activities.
Incentive
Reductions
Production
matrix/
Employment
Value
Added Tax
LRTI-55.8
Products for
export
Incentive
Exoneration
Production
matrix/
Employment
Value
Added Tax
LRTI-56.20
Refrigeration,
cooling and
freezing services
to preserve the
foodstuffs of
article 55.1 and
in general of all
perishable
products or
those to be
exported.
Services of
slaughtering,
cutting, milling,
crushing and
extraction by
mechanical or
Incentive
Exoneration
Production
matrix/
Employment
Tax reforms and activity indicators in the aquaculture industry in the province of Santa Elena, 2018 - 2022.
Espirales. Revista multidisciplinaria de investigación científica, Vol. 8, No. 49
April - June 2024 e-ISSN 2550-6862. pp 50-72
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chemical means
to produce
edible oils.
Tax on
Foreign
Exchange
Outflows
L R E T- p o
s t 162
Payments made
for ISD on the
importation of
raw materials,
inputs and
capital goods
that are
incorporated in
production
processes will
constitute an IR
tax credit.
Incentive
Tax Credit
Product / E m p l o y
m e n t Matrix
Savings/Investment
Income Tax
LRTI-9.1.
New and
productive
investments
outside the
canton of Quito
or Guayaquil
I n c e n t i v e
Benefit
Exoneration
Savings/Investment
Income Tax
LRTI-10.7
Additional
deduction of
100% of
depreciation and
amortization of
equipment and
technologies for
cleaner
production and
generation of
energy from
renewable
sources.
Incentive
Deductions
to obtain
taxable
income
Savings/Investment
Income Tax
LRTI-10.17
Additional
deduction of
100% of
expenses
incurred by
medium-sized
companies for:
research training,
productivity
Incentive
Deductions
to obtain
taxable
income
Savings/Investment
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Espirales. Revista multidisciplinaria de investigación científica, Vol. 8, No. 49
April - June 2024 e-ISSN 2550-6862. pp 50-72
59
improvement,
expenses
incurred in travel
for commercial
promotion and
access to
international
markets.
Tax on
Foreign
Exchange
Outflows
LRET-159
Payments made
abroad for the
amortization of
principal and
interest of loans
granted by
international
financial
institutions, with
a term of more
than one year, for
the financing of
investments
contemplated in
the Production
Code.
Incentive
Exoneration
Savings/Investment
Note: Data obtained from the Internal Revenue Service.
Prepared by: Author
Based on Oñate (2020), activity indicators are quantitative measures that are currently
used as tools to obtain important information on the performance of one or several
companies. These indicators evaluate key aspects such as health, profitability, stability
and financial viability, which helps to identify financing problems in time. This is
especially relevant in the marine aquaculture sector, where these ratios are used to verify
the future of the sector through the analysis of financial information.
The importance of an adequate management of finances is focused on achieving
objectives, allowing decision making, supporting sustainability and managing the
money that companies dedicated to marine aquaculture have, which are directed to
invest in specific goods and resources, being indispensable and opportune to carry out
the different analyses that these indicators provide us with.
The importance of an adequate management of finances focuses on the use of the
lightest resources in the world, money and shareholders or credits the existence of new
sources of resources to the company, to which, shrimp farmers are concerned about
investing in land and technology to obtain a higher yield taking into account the quality.
Corporate profitability has to do with the returns obtained after an investment, and the
capacity of retribution towards the financial resources used by the company, be they its
Tax reforms and activity indicators in the aquaculture industry in the province of Santa Elena, 2018 - 2022.
Espirales. Revista multidisciplinaria de investigación científica, Vol. 8, No. 49
April - June 2024 e-ISSN 2550-6862. pp 50-72
60
own, such as equity, or coming from third parties, such as credit granted by financial
institutions (Baquerizo, 2022). It is a term that measures the efficiency and effectiveness
with which the company works in the area of human, productivity and financial resources.
Business performance indicators are generally represented by profitability, which
measures the effectiveness in controlling costs and expenses to convert them into sales.
According to Oñate (2023) the performance indicators are as follows:
Return on assets (ROA) measures the company's capacity to obtain income through the
use of assets. It is an indicator that helps to know the profits in relation to the investment
made in productive assets. In practical terms, it represents the profits generated by the
company's core resources.
The return on equity (ROE) measures the return on the capital invested by the owners
and shareholders. When this indicator is favorable, it provides security and confidence
to the investments made by its owners, and encourages third parties to opt to become
part of the company's shareholding package, thus giving the company the advantage
of increasing its shares and at the same time securing financing for its future investments.
According to Bazerque et al. (2021) liquidity is given by the sufficient amount of cash (or
available in its bank accounts) that the company has for daily operations, such as for
purchases of raw materials or short-term investments. The success of having good
liquidity will depend on the proper management of cash, cash flow and bank accounts
(Rodriguez, 2018).
Brigham and Ehrhardt, (2022) indicated that financial analysis is determined by the
evaluation of the financial components of a company, such as: balance sheet, income
statement, and cash flow statement. They become tools that, through a detailed analysis
of each one and by establishing connections between them, supported by statistics on
profitability and financial performance of the company, facilitate decision making
directed towards the acquisition of machinery, equipment, properties or possible
mergers in order to expand and grow.
Altamirano (2017) indicated that the profit for the year is the difference between
revenues, and all the costs that the company incurred to obtain revenues. It is called
profit for the fiscal year, because the period in which the company performs this
accounting exercise can be quarterly, half-yearly or annual. The result of this accounting
operation will be the taxable base for the tax calculation, and after that, the profit for
employee profit sharing will be determined and the various reserves that the company
considers, as well as the distribution of dividends to its shareholders, will be
contemplated.
These are all the financial resources that the owners or third parties have at their disposal
at the time of making an investment in order to obtain profitability in a given period.
Investments can also be financed through access to bank loans, which generate costs
and expenses associated with their use (Bazerque et al., 2021). In any of the scenarios,
investment is a constant dynamic that should prevail in the company in order to ensure
Joselyn Tatiana Muñoz Lopez , Miguel Ganchozo Lopez
Espirales. Revista multidisciplinaria de investigación científica, Vol. 8, No. 49
April - June 2024 e-ISSN 2550-6862. pp 50-72
61
liquidity and profitability, important indicators that help business development and
growth.
Sanchez and Lazo (2022) A tax savings plan is determined by different strategies that
companies choose to reduce the tax burden, it also consists of taking advantage of the
different tax benefits that exist in the tax legislation, in order to reduce the payment of
income tax.
Decision-making is a fundamental part of business development and growth, and
involves taking and assuming opportunity and cost-benefit risks. Undoubtedly, in order
to make the best decisions, it will depend to a great extent on the experience of the
owners and managers. On the other hand, the technical and professional knowledge of
the owners and collaborators, since for better decision making, qualitative and
quantitative data such as financial ratios must be analyzed (Chávez et al., 2022).
Materials and methods
This research was carried out in the province of Santa Elena with the purpose of
evaluating the tax reforms on the activity indicators of the shrimp industry in the province
of Santa Elena. For this purpose, a descriptive approach was used to deepen the topic
of study by theoretically breaking down the variables; in addition, an analysis of the
situation of micro, small and medium-sized enterprises (MSMEs) belonging to the shrimp
sector was carried out in order to identify the problem under study.
In this project, correlational research was also used through the analysis of indicators to
analyze the variables of interest. In this way, the results obtained in the survey data
collection were examined in order to identify the critical factors linked to the impact of
tax reforms on activity indicators.
In this study, a qualitative approach was adopted to understand the factors associated
with the tax reforms occurring between 2018 and 2022, as well as the activity indicators
of the shrimp industry in the province of Santa Elena. This understanding was achieved
through an exhaustive literature review focused on the variables under study.
On the other hand, a quantitative approach was applied in order to identify the critical
elements linked to financial indicators. In addition, different practical and experimental
methods were used to investigate the current situation of shrimp industry companies in
the province of Santa Elena.
This approach allowed the acquisition of information on the research topic and the
development of tools and strategies appropriate to the context. This was achieved
through direct observation of the object of study and interviews with the people
involved.
This approach facilitated the formulation of conclusions based on the study variables, in
order to identify the critical aspects associated with the tax reforms between 2018 and
2022.
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The study population is divided into two groups in order to carry out a detailed analysis
between Micro, Small and Medium-Sized Enterprises (MSMEs) that have been recently
established and those that have a consolidated presence in the market. In order to
obtain primary information on the object of study, a survey was conducted among these
31 MSMEs. The Google Forms tool was used and it was distributed through e-mails
addressed to the managers of the MSMEs belonging to the shrimp sector in the province
of Santa Elena.
The first group is comprised of 12 MSMEs established in less than five years, while the
second group includes 19 MSMEs with more than five years of experience in the shrimp
sector in Santa Elena province. These companies are dedicated to shrimp and shrimp
larvae farming, maintaining their active status and complying with the regulations
established by the Superintendencia de Compañías.
Various sources and methods of data collection were used in the development of the
research on income tax reforms and financial indicators in the shrimp industry in the
province of Santa Elena. These are described in detail below:
Expert interviews: This technique was used to obtain an in-depth understanding of the
current situation of MSMEs in the shrimp sector in the province of Santa Elena. A
questionnaire was conducted with experts in the area of study to identify the critical
factors relevant to the research.
Observation: Indirect observation was used to identify the factors associated with tax
reforms and financial indicators in the shrimp industry, in order to highlight the central
problems of the study.
Surveys: Surveys were conducted among 31 MSMEs in the shrimp sector in the province
of Santa Elena. These surveys, which consisted of 4 identification questions and 10
research questions, were aimed at evaluating income tax reforms and financial indicators
in this industry.
Documentary and virtual review: An exhaustive review of secondary sources such as
books, scientific articles, theses and related documents was carried out. This provided
theoretical support for the research and the proposal designed, providing a solid frame
of reference on the topic of study.
Results
Highlights the results obtained in relation to the tax incentives granted to Micro, Small,
and Medium Enterprises (MSMEs) with 5 years of activity in the commercial shrimp sector
in the province of Santa Elena. It was determined that, in 2019, none of the companies
evaluated applied the tax incentives. For 2018, the MSMEs Cultivos Marinos
CULMARINSA S.A. and Camaronera La Comarca DCMC S.A. also made use of tax
incentives, including tax exemptions and tax credits, obtaining a total of $27,408.42 in
deductions. In 2019, none of the companies examined opted to use incentives, while,
in 2020, the application of tax incentives by Camaronera La Comarca DCMC S.A. stands
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out, in accordance with the additional deduction established for micro, small and
medium-sized companies oriented to technical training and productivity improvements
in the shrimp sector, achieving a total deduction of $22,648.37.
Presents the results obtained in terms of tax incentives applied by Micro, Small and
Medium Enterprises (MSMEs) with more than 5 years of activity in the shrimp sector in
the province of Santa Elena. In 2018, CABANI S.A., a MSME, used tax incentives such
as tax exemption and tax credit to reduce its tax liability, achieving a total of $4,928.80
in deductions. During 2019, none of the companies studied benefited from these
incentives. Finally, in 2020, two companies stood out for their use of tax incentives: Jesús
del Gran Poder, J.D.G.P. S.A. applied the additional deduction intended for micro, small
and medium-sized companies for technical training and productivity improvements in
the shrimp sector; and VINSOTEL S.A. also used tax incentives, in its case, the tax
exemption and tax credit to reduce its tax payable, achieving a total deduction of
$24,952.81.
Information obtained from the Superintendency of Companies reveals that, in 2019, 68%
of MSMEs achieved profitability per dollar invested in assets, while a 33% decrease was
evident in 2020, mainly attributed to the COVID-19 pandemic. In addition, 94% of
MSMEs had the ability to use their earnings to cover operating costs, with a 13%
decrease in gross margin profitability in 2020.
In 2019, 74% of MSMEs were able to cover non-operating costs with total revenue,
representing the proportion of sales that became revenue after paying operating costs.
In 2020, there was a decrease of 29%. Likewise, 74% of MSMEs had profit per unit sold
in 2019, with a significant 48% decrease in profitability on sales in 2020.
In 2019, 74% of MSMEs provided profitability to shareholders or partners without
considering financial expenses and taxes on invested capital, while in 2020 there was a
decrease of 31%. On the other hand, 71% of MSMEs provided net profit to shareholders
or partners taking into account financial expenses, taxes and workers' participation, with
a decrease of 29% in 2020.
According to surveys of 31 MSMEs in the shrimp sector in the province of Santa Elena,
the tax that most affects entrepreneurs financially is income tax (71%), followed by value
added tax (16%), vehicle tax (10%), and foreign currency outflow tax (3%). In addition,
64% consider that the tax burden is reasonable with respect to the income obtained,
while 26% perceive it as low and 10% consider it high. According to the data collected,
it is observed that MSMEs that applied tax incentives obtained a considerable
profitability due to the exemption of that item in the tax return, in contrast to those that
did not take advantage of the incentives, which obtained a less significant profitability.
The collection of taxes is an essential component of a country's fiscal policies and
economy, since it makes it possible to evaluate the effectiveness of governments in
generating revenue through tax collection. In this sense, it is imperative that the relevant
authorities implement appropriate collection strategies to increase their resources for
social investments. In addition, it is crucial to promote tax awareness, since it is through
Tax reforms and activity indicators in the aquaculture industry in the province of Santa Elena, 2018 - 2022.
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the collection of taxes and levies that sustainable development is strengthened in
society.
The results of illustration No.-3 show that 29.03% of the 31 companies surveyed indicate
that the main factor that prevents them from complying with their payment obligations
is due to the inconveniences presented by the digital platform of the Internal Revenue
Service System, which collapses, while 19.35% state that compliance is made difficult
due to the constant changes in accounting and tax regulations. It is evident that 51.61%
of the companies have difficulties in complying with payment due to the lack of
information on new regulations, percentages, benefits, among other tax issues, and
sometimes this generates insecurity or fear on the part of the person in charge of
complying with the payment of the company's taxes.
It is crucial to bear in mind that tax evasion represents an obstacle for the State in terms
of collection and equitable distribution of resources. In the business sphere, some of the
main causes of this practice are attributed to the lack of a tax culture, changes in
management or leadership, and sometimes, to the complexity of the tax system.
According to state regulatory institutions, a decrease in taxes has been observed in
several productive sectors in Ecuador, resulting in tax revenues below collection
projections. This situation limits the ability to carry out adequate social investment.
According to the surveys conducted, it was determined that 39% of the companies
consider that the government's efficiency in collecting taxes is very bad, 19% consider
it to be very good, but a mechanism should be sought to improve this collection, while
only 13% consider the government's efficiency to be excellent; therefore, a more
efficient tax collection system should be implemented to benefit social investment.
The tax system in Ecuador has deficiencies in both the regulatory structure and tax
management, which has resulted in considerable levels of evasion and a decrease in the
collection of taxes that should be standard. In addition, there is a poor allocation of
resources by the State in terms of expenditures. In response to these problems, Ecuador
has implemented mechanisms that seek to make society aware of their duties as citizens
and their responsibility as taxpayers, with the purpose of promoting the country's
sustainability. This is carried out through a tax culture that seeks to educate and
encourage responsibility in the payment of taxes, in order to combat tax evasion.
According to the surveys conducted, it was determined that the shrimp sector industries
do not have training programs on a constant basis, since 3% mentioned that they are
carried out on a monthly basis, followed by 13% that they are carried out on a quarterly
basis; 35% of the training is carried out annually, which generates lack of knowledge
among employees due to the constant changes in laws or tax reforms.
The lack of tax awareness and culture leads to a deficit in tax collection, negatively
affecting the economic aspect of public finances. This prevents the government from
having the necessary resources to implement public policies aimed at the most
vulnerable sectors of society. On the other hand, taxpayers may obtain benefits by
carrying out their economic activities, but by not declaring their income, these may be
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considered fraudulent, which could result in the commission of tax fraud offenses. These
offenses carry sanctions, including fines and penalties up to imprisonment.
Tax collection presents complex challenges in Ecuador, arising from various problems
within the sector. However, it is essential to implement strategies that foster a better tax
culture in order to improve tax collection and enable the State to fulfill its obligations.
The analysis of tax culture determines that if citizens comply with their tax duties on a
mandatory, voluntary or collaborative basis, it strengthens the fulfillment of national
development programs, thus improving the living conditions of Ecuadorians.
It is essential to strengthen tax revenue collection, as it plays a significant role in
Ecuador's finances, having a crucial impact on the country's economy. Efficient tax
collection enables the execution of development programs, including the construction
of infrastructure, improvement and maintenance of works, as well as the financing of
social services provided by public entities. This contributes to the fulfillment of the
objectives of Good Living for the citizens.
According to the surveys conducted, it is evident that the larvae industries generate
profitability due to the effect of the significant volumes of larvae and shrimp production
in their commercialization and export, and does not prevent the payment of their tax
obligations on time, for this reason, 80.65% of the people emphasize that the income
does allow compliance with their payments in the medium and large companies.
Tax evasion refers to the practice of not complying with the payment of taxes,
encompassing a set of actions through which an individual evades the responsibility of
paying the taxes required by law. This results in an illegal act in which income generated
in a given period or assets in possession are concealed, with the aim of reducing the tax
burden. Despite this, tax evasion represents a constant challenge, especially due to the
political and economic instability that characterizes a country. Therefore, it is essential to
make individuals aware of the importance of adopting a tax culture for the sake of
national development.
According to the surveys carried out, it was determined that 23% of the companies
consider that due to the high competition in the market, tax evasion is a factor; while
35% of the companies consider that it is due to the lack of knowledge of the regulations,
followed by 19% who state that it is due to the deficiency of the tax culture, it is important
to mention that it is a key factor in every company, it is a matter of morality and values
of the individual when assuming his payment obligations.
Tax evasion involves illicit practices, such as the use of fraudulent documents and the
performance of legal acts with the objective of reducing the tax burden of the taxpayer,
without considering compliance with tax obligations and legal provisions (Carrera, 2020).
Another facet of evasion is related to the lack of real awareness on the part of the
individual, resulting in ignorance of the tax programs established by the government.
The proposed model MGTSSA - 2024, is a metamodel of its own authorship that has the
name by its acronym identified as: sustainable tax management model for the
aquaculture sector of the province of Santa Elena, developed in the year 2024, aims to
Tax reforms and activity indicators in the aquaculture industry in the province of Santa Elena, 2018 - 2022.
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strengthen the tax culture, and business sustainability. The model is designed in relation
to the criteria determined in this research, thus improving the critical factors that affect
tax management.
The aquaculture industry plays a crucial role in the economy of the province of Santa
Elena. In order to strengthen business sustainability in this sector, a sustainable tax
management model is proposed that adapts to the specific needs and characteristics of
the aquaculture industry. This model seeks not only to optimize tax collection, but also
to promote responsible and sustainable tax practices that benefit both businesses and
the environmental and social environment.
Corporate sustainability in St. Helena's aquaculture industry is essential to ensure
balanced and responsible development. This proposal is based on eight key factors to
design a Sustainable Tax Management Model that not only optimizes tax collection, but
also promotes the environmental and social sustainability of aquaculture enterprises.
The proposed Sustainable Tax Management Model for the aquaculture industry in the
province of St. Helena is a comprehensive tool that seeks not only to optimize tax
collection, but also to promote business management aligned with principles of
environmental and social sustainability. The eight key factors outlined, from the
comprehensive analysis of the industry to the continuous evaluation and improvement
of the model, form a solid and holistic framework that addresses the specific challenges
of the aquaculture industry in the region.
The key factors of the model are described below:
•
Aquaculture Industry Analysis:
Conduct a comprehensive analysis of the
aquaculture industry in St. Helena to understand its particularities, challenges and
opportunities.
•
Tax Education and Awareness:
Develop specific educational programs for the
aquaculture industry that improve understanding of tax obligations and promote ethical
and sustainable tax practices.
•
Environmental and Social Monitoring:
Integrate environmental and social
indicators in the evaluation of tax sustainability, ensuring compliance with
environmental regulations and the contribution to the social welfare of the community.
•
Community Participation:
Encourage the active participation of aquaculture
companies in community initiatives that contribute to local sustainable development.
•
Technology and Tax Digitalization:
Implement technological solutions to
streamline and simplify tax processes, facilitating compliance with tax obligations by
aquaculture companies.
Joselyn Tatiana Muñoz Lopez , Miguel Ganchozo Lopez
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•
Specialized Tax Advice:
Establish specialized tax advice centers for the
aquaculture industry to provide personalized guidance to companies and facilitate
regulatory compliance.
•
Sustainable Tax Incentives:
Identify tax incentives that encourage sustainable
business practices, such as the adoption of clean technologies, efficient resource
management, and compliance with environmental standards.
Continuous Evaluation and Improvement of the Model: Establish mechanisms for
periodic evaluation of the model, gathering feedback from aquaculture enterprises and
adjusting the approach according to the changing needs of the sector.
This model recognizes the importance of education, technology, expert advice and
community participation as fundamental elements in achieving a balance between the
fiscal, environmental and social needs of aquaculture enterprises. By integrating these
components, it seeks not only to strengthen business sustainability, but also to
contribute positively to the sustainable development of St. Helena, ensuring harmony
between economic growth and respect for the environment and the community.
According to Ugando Peña et al, (2022) the obligatory nature of the tax duties has
triggered several problems for the companies that they have not yet been able to
overcome or solve completely, since they claim that the conditions for tax payment
purposes have not been agreed upon; On the other hand, the reduction of certain
benefits and exemptions that they used to enjoy, and finally the severe obligation of the
tax administration in the payment of taxes to avoid fines and economic sanctions, mean
that nowadays the companies are deprived of their economic resources, generating the
absence of liquidity in some cases and insufficient resources for the investment of their
equipment and provisioning. The research determined that tax reforms respond to
negative changes in the global economy that have an impact on the national economy,
and sometimes to plans and projects of governments that seek to finance themselves
with the resources they can obtain from tax reforms.
According to Oñate, (2023) financial ratios are an important tool, because they provide
timely information about the financial health of companies, through them it is possible
to visualize the weaknesses and strengths of the decisions made; in the research it was
determined that for the shrimp industry it is very important to have this information,
because they represent a considerable percentage in the contribution of sources of
employment and in the Latin American economy.
Conclusions
Despite the existence of tax incentives and their viability in the aquaculture industry, only
26% of the MSMEs in the shrimp sector made use of these incentives to reduce their tax
liability. While 74% of the MSMEs considered did not take advantage of these incentives;
due to the fact that, on many occasions, these decisions are made and evaluated by the
company's management, where it would be expected to have the proper advice from
Tax reforms and activity indicators in the aquaculture industry in the province of Santa Elena, 2018 - 2022.
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professionals in tax and accounting matters, this can lead to situations of ignorance and
communication failures, which hinders a greater use of tax incentives.
The main causes of tax evasion in the shrimp industry in the province of Santa Elena are:
lack of knowledge of regulations, 35% due to limited training programs; and deficient
tax culture, 19%. It is essential that they understand the importance of applying tax
incentives, their impact on annual profitability and the adoption of a solid tax culture,
which will benefit MSMEs and contribute to the growth and development of the country.
It is crucial to promote a tax mentality among microentrepreneurs in the shrimp sector,
emphasizing that taxes contribute positively to profitability, thus stimulating research
and development in this area, seeking to apply existing tax incentives.
..........................................................................................................
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