- Ecuadorian President Daniel Noboa has proposed increasing the value added tax (VAT) to fund efforts to combat crime gangs.
- The spike in violence this week is believed to be a response to Noboa’s plans to address the security situation.
- Noboa has declared a state of emergency and named 22 gangs as terrorist organizations.
- Three hostages have been freed with the help of the Catholic Church and the Red Cross.
- Security has worsened due to economic troubles and external debt.
- The tax proposal would raise VAT by three points to 15 percent and could generate over USD 1.3 billion per year.
- The bill must be approved within 30 days.
Source: menafn.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
