Ecuador’s Internal Revenue Service (Incp) is advising taxpayers to begin planning for income tax declarations, which open on August 12th. The Incp stresses the importance of accurately calculating tax obligations. This calculation should be based on a comprehensive review of income sources, associated costs, and allowable deductions. Taxpayers are also encouraged to consider any tax-exempt income and eligible discounts. Proper planning will ensure compliance and potentially minimize tax liabilities. The Incp aims to facilitate a smooth filing process for all citizens. The agency hopes this guidance will prevent issues during the declaration period.