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Ecuador Officially Increases VAT Rate and Introduces Other Measures to Fund Strengthened Security

|Approved Changes|Ecuador
Ecuador

Ecuador published the Organic Law to Confront the Internal Armed Conflict and the Social and Economic Crisis in the Official Gazette on 12 March 2024. The law contains measures to raise additional revenue to strengthen security amid rising violence in the country, including an increase in the VAT rate from 12% to 13%, which may be further increased up to 15%. For this purpose, Executive Decree 198 was published in the Official Gazette on 18 March 2024, increasing the rate to 15% with effect…

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