The Ecuador Internal Revenue Service (SRI) has issued Resolution NAC-DGERCGC24-00000016, which updates the procedures for claiming VAT credit refunds. If a taxpayer’s monthly return shows a balance in their favor, it is considered a VAT credit that will be used to offset the VAT due in the following month. If it is expected that the resulting tax credit cannot be used within the next six months, a refund can be requested. The resolution also outlines the procedures for refunding tax credits generated by VAT withholding at source, requiring applications to be submitted in chronological order with an explanation of why the resulting VAT credit cannot be offset within six months. Additionally, taxpayers must submit a digital list of withholding receipts in spreadsheet format to support the VAT withholdings requested and recorded in the tax return.
Source Orbitax
