Products such as chicken, sugar, flour, milk, meat, oats, salt, seafood and butter are some of those that will not be affected by the increase in value added tax (VAT) from 12% to 15%, in case it is approved by the National Assembly Organic law on dealing with internal armed conflicts, social and economic crisis, proposed by President Daniel Noboa.
By increasing these three points in the VAT, the Government expects an additional 1.306 million dollars per year, but it clarifies that this measure does not include products from the basic basket or medicines, basic services, passenger and cargo transport at the national level. , healthcare, education, apartment rental, among others.
According to the National Institute of Statistics and Censuses (INEC), the analytical baskets (basic and vital) consist of about 75 products out of 359 that make up the basket of items (goods and services) of the consumer price index. (IPC), which is consumed by a typical household (four members).
In everyday shopping, the effect of the VAT increase would be around 2 to 4 dollars
The Tax Administration (SRI) details a long list of goods and services that are not subject to VAT, which are found in Articles 55 and 56 of the Law on the Internal Tax Regime.
Food
All those who have not been prosecuted, according to the SRI. Mere cooling, chilling or freezing for their preservation, piling, cleaning, crushing, extraction by mechanical or chemical means for the production of edible oil, slaughtering, cutting and packaging shall not be considered processing. Under these parameters, these are some of the products:
Other products also appear on the list:
Services for which no VAT is payable are:
Source: Eluniverso
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