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BREAKING NEWS
Cristian Espinosa was appointed Ambassador of Ecuador to the United States
Daniel Noboa receives the credentials of the new United States ambassador
40,000 women will receive scholarships in higher education
Julian Assange released from prison, after agreement with the United States
Armed Forces: Criminal gangs have lost USD 1.2 billion due to military operations in Ecuador
Minister of Defense: “It is not fair that some risk their lives, while others play with justice”
How can green banana flour enhance baked goods?
“I’m crazy for wanting to serve my country,” says Daniel Noboa at the presentation of “La Cárcel del Encuentro” in Santa Elena
Construction of the Encuentro maximum-security prison in Santa Elena begins
National blackout in Ecuador due to transmission line failure, confirms the Government

12% VAT causes a price readjustment in Ecuador

Posted On 01 Jun 2017

Ecuadornews:

A chain of appliance stores yesterday and offered to return the 2% VAT to its customers, anticipating the reduction that from now on applies to all goods and services that are taxed with this tribute.

The validity of the one-year VAT hike ended yesterday, established by the Organic Law of Solidarity and Citizenship Co-responsibility for the Reconstruction of the areas affected by the earthquake of April 16, 2016, raising the tax rate from 12% to 14%.

In ten months that increase of two points meant revenues of $ 681.9 million for the State, and the Internal Revenue Service estimated that $ 800 million were collected in one year (I).

 

Source: http://www.eluniverso.com/noticias/2017/06/01/nota/6209218/precios-se-reajustan-regreso-iva-12

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