On March 29, 2024, the president Daniel Noboa issued executive decree 215, through which the terminal price of fuels and domestic gas is established without Value Added Tax (VAT). Of these values, the VAT increase to 15% must be added.based on the Law for the financing of the internal armed conflict decreed by the president himself.
As with other products, the price increase will take effect from 00:00 on Monday, April 1, 2024.
In the gasoline distributor sector they still do not know how the VAT increase will work, since a decree is currently in force, signed by President Guillermo Lasso, in which he froze the prices of Extra and Ecopaís at USD 2.40 and diesel at USD 1.75.
However, with the new government provision, it is clear that the terminal prices and marketing margin are maintained, but the tax is applied at 15%, so there is an increase of USD 0.06 for Extra and Ecopaís and USD 0.04 diesel.
The increase in the Petroleum derivatives for sectors such as shipping, aviation, artisanal and industrial fishing.
#Gasoline #rise #cents #gas #VAT #increase
