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Ecuador President Vetoes National Assembly's Rejection of VAT Rate Increase; Other Measures to Fund Security Approved

|Approved Changes|Ecuador
Ecuador

According to a notice published by the Ecuadorian Presidency via X (formerly Twitter), President Daniel Noboa has issued a 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 President had sought an increase in the VAT rate from 12% to 15%. However, this was rejected by the National Assembly. In response, the partial objection provides for a permanent increase i…

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