Ecuador’s President Daniel Noboa partially objected to a law aimed at raising additional revenue for security due to increasing violence. The objection was related to a proposed VAT rate increase, which was rejected by the Assembly. The Assembly has not reached an agreement on the objection, so the VAT rate will be permanently increased to 13%, with the president authorized to temporarily raise it to 15% under certain conditions. Implementation details will be published later.
Source Orbitax
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