Ecuador's President Rafael Correa recently issued Executive Decree 973, which makes a number of changes in the country's transfer pricing regulations. Some of the key changes include:
- No longer requiring the application of the so-called "6th method" for determining transfer prices of commodity transactions, or requiring the hierarchal application of the other transfer pricing methods;
- Requiring the use of current OECD transfer pricing guidelines as of 1 January of the year of a transaction f…