According to recent reports, Ecuador's VAT rate will be increased from 12% to 13% with effect from 1 April 2024, with a possible further increase to 15%. The increase will be implemented following the entry into force in March of President Daniel Noboa's partial objection (veto) to a law approved by the National Assembly to raise additional revenue to strengthen security amid rising violence in the country. As previously reported, the National Assembly failed to reach agreement on whether to …