*Ecuador’s President Daniel Noboa has signed a decree ordering a rise in the value-added tax (VAT) rate to 15% from 1 April, up from the current rate of 13%. A statement from Ecuador’s tax authority (SRI) said that the VAT hike was necessary to fund emergency security measures being carried out by the government and to ensure fiscal stability. Noboa has pushed ahead with the VAT increase despite opposition in the national assembly, which in February rejected a previous attempt to raise the rate to 15%.
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