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BREAKING NEWS
Ecuador will be able to recover from the strike in the second half of 2022
Ecuadorian Amazon loses 379,000 hectares of forest in almost four decades
Extra and eco gasoline prices at $2.40 and diesel at $1.75 are already in force in Ecuador
Ministry of Agriculture began the delivery of seeds, inputs and subsidized fertilizers up to 70%
Guillermo Lasso: ‘Now together we begin the task of transforming this peace into progress, well-being and opportunities for all’
Government and Conaie agree to end the strike after a tense morning
Ecuador asks Mexico for a response on bananas and shrimp
Losses in the non-oil export sector amount to $85 million in 16 days of strike
The Government withdraws from the dialogue table after the death of a soldier
Popular oil would arrive in stores from this week at prices ranging from $1 to $1.25

Assembly approves VAT hike and compulsory taxes for earthquake victims assistance

Posted On 13 May 2016

 

asamblea1-ECUADORTIMES.ECUADORNEWS

Ecuador’s National Assembly today approved the Solidarity and Co-responsability Law, promoted by the Government to tackle the emergency following the 7.8M earthquake that devastated the northern coast of the country last April 16.

After six hours of debate, the plenary of the Assembly adopted the called “Solidarity law” which generates taxes and contributions as well as tax incentives in the affected areas to prop up their reconstruction.

The bill, that was supported by 94 legislators, 26 votes against and 7 abstentions, among other things, provides the VAT rise for up to one year, from 12 to 14 percent, but this does not affect fuels.

Source: http://www.larepublica.ec/blog/politica/2016/05/12/doce-cambios-se-incluyen-en-el-informe-de-ley-solidaria-que-votara-la-asamblea-nacional/

 

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