Ecuador’s Noboa Pushes for VAT Hike Over Congressional Vote (1)

Ecuador’s President Daniel Noboa doubled down on his proposal to increase the value-added tax to 15% hours after it failed to pass the National Assembly.

In a line-item veto of a tax package passed by the assembly earlier Tuesday, he established a permanent VAT band of 13% to 15%, hinging on fiscal requirements and the balance of payments. Noboa, who has an approval rating of 80%, is seeking the increase to address the nation’s security and fiscal crises. The assembly will have to muster a super-majority to override the increase.

“Ecuadorians cannot wait another single day for the fight against ...