The Economic Development and Fiscal Sustainability Law came into effect on November 29 and reduces the value added tax (VAT) by 0% for certain products.
As of December 1, in some establishments such as supermarkets, minimarkets and others, the entry into force of the Economic Development and Fiscal Sustainability Law (tax reform), which provides the elimination of the value added tax (VAT) for sanitary napkins, various feminine hygiene products, masks, antibacterial gel and other products.
In Santa María supermarkets scheduled the change in the system on November 30, Account Armando Puyol, assistant marketing manager of the company.
“Everything is automated. When the regulation came out, it was validated in the system. As they are automated, the addresses are entered into the system and it runs them nationwide in all branches, we put it in the night (before) so that the next day it is ready in all the cash registers. This can facilitate price changes when necessary and when the regulations say so ”, he explains.
Why is it said that the tax bill was not approved, denied or filed?
Supermercados Santa María made these changes in its 38 branches for sanitary napkins, personal hygiene products, masks, oximeters, popular disposable diapers, among others.
According to Puyol, these types of products are widely consumed. At the moment there have been no public consultations on this issue.
Meanwhile, from the Orders Market, this measure was also executed on December 1. They modified their VAT rates for the super online category, which is the one they handle.
How much will those who earn more than $ 2,000 a month pay in income tax in Ecuador?
“The modification of VAT rates implies their adaptation within the catalog which, although it applies to the products that are sold in all stores, has a manual process that is the identification of the products susceptible to change”, explains Alejandro Figari, managing director of Orders Already in Ecuador.
Orders It already has nine super online stores and these changes are also automatic.
The company considers this measure positive because “it allows greater accessibility to basic necessities, which will possibly generate greater dynamism in all the commercial sectors of the country.” (I)
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