- Ecuador’s President Daniel Noboa signed Executive Decree No. 470 on 4 December 2024
- The decree extends the 15% VAT rate increase through 2025
- The VAT rate was initially increased from 12% to 15% under the Organic Law to address internal armed conflict and economic crises
- The VAT rate was previously set at 13%
- The President has the authority to adjust the VAT rate up to 15% with approval from the Ministry of Economy and Finance
- The increased VAT rate of 15% was initially enacted through Executive Decree No. 198 on 1 April 2024 and has now been extended to 2025
Source: regfollower.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.
