The Ecuador Internal Revenue Service (SRI) has published Circular No. NAC-DGECCGC22-00000012, which clarifies the application of new rules for the deduction of expenses incurred in relation to royalty and technical, administrative, and consulting services payments to related parties as introduced by Executive Decree No. 586 of 31 October 2022. As previously reported, the new rules provide that the deduction of such expenses is limited to 5% of taxable income per year, with certain exception…