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Ecuador Planning to Increase Taxes on High Profit and Income Earners to Offset Economic Impact of COVID-19

|Proposed Changes|Ecuador
Ecuador

According to recent reports, Ecuador's President, Lenin Moreno, is planning a number of measures to increase revenue in order to offset the economic impact of the COVID-19 health crisis. This would include an exceptional tax of 5% on companies with profits exceeding USD 1 million, as well as a temporary increase in taxes on high-income individuals. In addition, salaries of officials and civil s…

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