- President Noboa of Ecuador has proposed increasing the Value Added Tax (VAT) from 12% to 15%.
- The proposed increase in VAT is part of a bill called the “Organic Law to confront the internal armed conflict, the social crisis and the economy.”
- The increase in VAT is expected to generate an additional $1,306 million in revenue.
- President Noboa believes that tough economic measures are necessary to address the current situation in Ecuador.
- The increase in VAT is seen as a way to generate a constant source of income and prevent the accumulation of new financial obligations.
- The country has been experiencing a series of violent acts attributed to criminal groups, leading to the declaration of an internal armed conflict by President Noboa.
Source: ruetir.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.
