The Ecuador Internal Revenue Service (SRI) has published Circular NAC-DGECCGC18-00000006 on the options for taxpayers for the treatment of remittance tax (ISD) paid. The circular notes that taxpayers have three options for ISD, which include using the tax paid as a tax credit, treating the tax paid as a deductible expense, or claiming a refund of the tax paid.
In this respect, the circular provides that each of the options are mutually exclusive. For example, if a taxpayer chooses to use t…