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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%
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Popular oil would arrive in stores from this week at prices ranging from $1 to $1.25

VAT contracted by 21.4% until April this year, according to the IRS

Posted On 25 May 2016

 

Image: El Universo

Image: El Universo

In the first quarter of the year, the collection of the value added tax (VAT) fell by 21.4% compared to the same period of 2015, according to the April report of the Internal Revenue Service (IRS).

Between January and April 2016, the VAT collected net revenues by $ 1,934.03 million, while in the same period last year it collected $ 2,460.48 million.

 

There was a reduction of 37.4% in the imports VAT, while in 2015 $ 647.08 million were collected, $ 404.86 million were collected in 2016. The internal VAT reached $ 1,529.17, $ 284.23 million less than in 2015.

According to Jaime Carrera, executive director of the Fiscal Policy Observatory (OPFfor its Spanish acronym), the contraction of these revenues is a reflection of the slowdown in the economy.

 

Source: http://www.eluniverso.com/noticias/2016/05/25/nota/5598618/iva-se-contrajo-214-hasta-abril-este-ano-segun-sri

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