Ecuador's Internal Revenue Service (SRI) has published Circular NAC-DGECCGC24-00000006, which clarifies the conditions private non-profit entities (institutions) must meet to enjoy the corporate income tax exemption provided under Article 9 paragraph 5 of the Income Tax Law. To benefit from the income tax exemption, the Circular provides that private non-profit entities must comply with the following:
- Of the total income generated in each fiscal period, at least 5% must be made up of contri…