Ecuador Gazettes Circular Adjusting Exit Tax on Foreign Currency Procedures for 2025

The Ecuadorian Official Gazette Jan. 29 published Circular No. NAC-DGECCGC25-00000003, adjusting certain procedures in 2025 regarding the exit tax on foreign currency (ISD) for taxpayers who import raw materials, capital goods, and materials for production. The circular includes measures: 1) allowing registered taxpayers who claim a tax credit for ISD payments made before Dec. 31, 2024, to offset the credit against income tax, record the credit as a deductible expense, or request a refund; 2) requiring ISD withholding and collection agents to issue electronic withholding vouchers and process ISD forms with respect to the ISD rates of 2.5 percent and ...