In a document sent Tuesday to Legislative Branch leader Virgilio Saqicela, the president said he had filed a total objection for “unconstitutionality and inconvenience.”
On November 29, the Assembly approved the bill repealing the Post-Covid-19 Pandemic Economic Development and Fiscal Sustainability Act, with which they intended to annul the Lasso-sponsored measure with new parameters for greater tax collection.
In addition, the current provision has rolled back several exemptions, introduced a new wealth tax and taxes on companies with profits in the pandemic.
According to MPs from the opposition bank Union for Hope (UNES), the application of the law does not bring any benefits for citizens, who on the contrary are affected by having to pay more taxes.
The tax supplement was required to increase government revenue under the lending program that Ecuador has with the International Monetary Fund (IMF).
The assembly must analyze the veto when it resumes work on January 3.
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