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Xinhua world news summary at 0630 GMT, Feb. 8

Xinhua world news summary at 0630 GMT, Feb. 8
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Ecuador lawmakers vote against raising VAT to finance offensive against crime

Ecuador lawmakers vote against raising VAT to finance offensive against crime
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Ecuador lawmakers vote against raising VAT to finance offensive against crime

Ecuador's National Assembly on Tuesday voted down a proposed increase to the value added tax , which President Daniel Noboa said would finance a security offensive against criminal gangs....
-February 06, 2024 at 05:11 pm EST
- MarketScreener

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Ecuador lawmakers vote against raising VAT to finance offensive against crime

QUITO (Reuters) -Ecuadorean President Daniel Noboa on Tuesday acted to force lawmakers to vote again on a measure to hike the value added tax to finance a security offensive against criminal gangs, after lawmakers earlier in the day voted it down. Lawmakers defeated the measure to raise the VAT to 15% from 12% until 2026, and then to set it at 13% from that year onward by a vote of 83 to 43, with nine abstentions. Lawmakers did approve a one-time measure to tax banks' profits from 2023 at between 5% and 25%.

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Ecuador Approves Tax Reform, Including an Amnesty to Boost Youth Jobs

Ecuador Approves Tax Reform, Including an Amnesty to Boost Youth Jobs
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Ecuador Approves Tax Amnesty Aimed At Coaxing Delinquent Taxpayers To Settle Bills, Introducing New Incentives

The tax reform is expected to generate over $830 million, which could help revitalize the economy of Ecuador.

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Ecuador approves tax reform, including an amnesty to boost youth jobs

Ecuador approves tax reform, including an amnesty to boost youth jobs
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Ecuador approves tax reform, including an amnesty to boost youth jobs

Ecuador's National Assembly on Tuesday approved a tax amnesty proposed by President Daniel Noboa aimed at coaxing delinquent taxpayers to pay outstanding bills, part of a tax reform that also includes new incentives to employ young people. Noboa took office last month promising to improve economic conditions, especially for youth, amid surging crime in the Andean country. "We will once again have order and the resources to combat lawlessness," said Noboa in a statement after the vote.

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Ecuador's Congress declares former President Lasso 'responsible' for embezzlement

Quito, Nov 30 (EFE).- Ecuador’s National Assembly on Thursday impeached former President Guillermo Lasso (2021-2023) and declared him responsible for the crime of embezzlement. This was the final vote of an impeachment process that the then president interrupted six months ago by dissolving the chamber and forcing a call for extraordinary general elections in what …

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Xinhua world news summary at 1530 GMT, May 17

UNITED NATIONS -- China economy is steadily recovering after the pandemic and remains strong, instilling confidence in its economic future, according to a Unite

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