Update - Ecuador Moving Forward with VAT Rate Increase

As previously reported, Ecuadorian President Daniel Noboa 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. The partial objection concerned a proposed increase in the VAT rate, which was rejected by the Assembly when it approved the law. The National Assembly has reportedly failed to reach agreement on whether to approve or reject the partial objection and, as such, the VAT rate …