The Ecuadorian Tax Authority, Servicio de Rentas Internas (SRI), has introduced a Resolution No. NAC-DGER CGC24-00000030 which allows large taxpayers to utilise credit notes from the remittance tax to offset their income tax obligations.
The resolution was officially published in the Official Gazette on 8 August 2024.
This includes their income tax liability, advance income tax payments, and monthly self-withholding tax.
Additionally, the resolution has renamed tax form 115 to “Payment of Minimum Advance Payment of Income Tax and Self-Withholdings for Large Taxpayers”.
This form is now mandatory for large taxpayers to file and pay the self-withholding tax. It must be submitted monthly, adhering to the same deadlines as withholding agents, which fall between the 10th and 28th of the following month, depending on the taxpayer’s ID number. A nil report is required if no self-withholding tax is incurred that month.
This new form is to be used starting August 2024, for income earned in the preceding month.
