LatinNews Daily - 29 October 2021

In brief: Ecuador’s Lasso resubmits rejected tax reform

* Ecuador’s President Guillermo Lasso has resubmitted his government’s tax reform to the national assembly, one month after a first attempt at reform, submitted as part of a double-pronged bill that also included a labour reform, was rejected on technical grounds. The new bill, titled the ‘law for economic development and fiscal sustainability’, is the first of three pieces of legislation comprising the reforms that were combined in the rejected bill – it will be followed by a labour reform bill, and then a third bill concerning investments. Lasso said that the proposed tax reform would bring in over US$1.9bn in two years, primarily through a wealth tax on individuals and corporations.

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