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Economy & Business - February 2020

ECUADOR: Tax reform a much-needed victory for the government

On 1 January Ecuador’s ‘tax simplicity and progressivity law’ came into effect following its final approval by the national assembly on 30 December 2019. The law is an important part of the packet of measures which the government led by President Lenín Moreno is seeking to implement in order to comply with the conditions attached to Ecuador’s US$4.2bn loan from the International Monetary Fund (IMF). Although the law will raise fairly modest funds, its approval is a much-needed victory for an administration which has faced significant opposition to its tax reform plans.

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