VAT will be 8% for tourist activities during the Easter holiday – 2024-03-13 04:40:31

2024-03-13 04:40:31

TURISMO. –

President Daniel Noboa determined, through Executive Decree 190, that the VAT will be 8% for tourist activities during the next Easter holiday, which will include Friday, March 29, Saturday, March 30, and Sunday, March 31, 2024.

From the beginning of April, however, VAT will rise from 12 to 15%, as established by law to confront the armed conflict in the country.

All tourist services will be able to access this benefit, such as: accommodation, food and drinks, transportation mainly dedicated to tourism, operation, intermediation and agencies, etc.

“This reduction will apply to services in the sector that have a tourist registration, which is obtained quickly and free of charge through the Smart Tourism System platform,” a statement highlighted.

The decree also establishes that the Internal Revenue Service (SRI) will carry out all necessary actions to facilitate the provisions of the document, while the establishments that provide tourist services will issue the respective sales receipts in accordance with the established rate.

From the beginning of April, VAT will increase from 12 to 15%, as established by law to confront the armed conflict in the country. This will cause goods and services to be more expensive throughout the production chain.

According to the president of the Ecuadorian Business Committee, Miguel Ángel González, and economic analyst Walter Spurrier, this will put a brake on the Ecuadorian economy./ El Telégrafo.