Ecuador Increased Taxes

Ecuador Increased Taxes

May 05, 1999 | By Keith Martin in Washington, DC

Ecuador increased taxes in March. The tax increases came at the same time the country was negotiating for financial help from the International Monetary Fund. Ecuador restored its income tax that was scrapped in January. A 1% tax on financial transactions that was introduced to replace the income tax will remain in place. Most VAT exemptions have been eliminated.