20 November 2019 Ecuador's National Assembly rejects and archives tax reform bill Taxpayers should continue to monitor any action on tax reform as the President is expected to propose a new bill. The Ecuadorian National Assembly rejected and archived the tax reform bill proposed by President Lenin Moreno. For more information, please refer Tax Alert 2019-1955. On November 17, 2019, the plenary of the Ecuadorian National Assembly (Session 629) met to debate and discuss the second and last report of the tax reform bill. The deadline to approve or reject the tax reform was on the same day the meeting was held. The National Assembly did not approve a motion to reject the tax reform bill. Rather, with 70 votes in favor, 32 votes against and 31 abstentions, the National Assembly decided to reject and archive the tax reform bill proposed by President Moreno. President Moreno plans to submit a new tax reform bill to the Ecuadorian National Assembly. To enact a tax reform bill before the end of the year that would be effective in 2020, the Government will have to file a new bill by the end of November, because the General Assembly will only have 30 days to review, reject or approve the bill.
Document ID: 2019-2074 | |||||||||||||||||||
