The National Assembly has not reached the necessary votes to be ratified in the bill that it approved, so it is understood that has tacitly agreed to President Daniel Noboa’s partial veto: that is, the VAT is increased from 12 to 13% and the Executive is given the power to raise it to 15% if it is considered necessary.
This February 9, the virtual session was held to learn about the non-binding report of the Economic Development Commission. After the intervention of seven legislators, the assemblywoman Valentina Centeno moved to ratify the initial text. However, this request only reached 78 affirmative votes. To give way, 92 votes in favor were required.
While the legislators, Ines Alarcon, raised the motion to comply with the Executive’s veto. For this to happen, it was necessary to have a minimum of 70 votes. Only 44 legislators voted in favor.
A memorandum written by the assemblyman also entered the session Blasco Luna (Citizen revolution) for the file of the partial objection. This is not possible, according to the Organic Law of the Legislative Function, which only establishes the ratification of the text of the National Assembly or the acquiescence to the veto.
In this context, in accordance with article 64 of the Organic Law of the Legislative Function, if the National Assembly does not consider the objection or it is not ratified in its text within the indicated period, it will be understood that it has acquiesced to it.
The result of the vote is understood as a tactical raid. In other words, within thirty days, the president Noboa has the power to order the publication of the law in the Official Registry.
According to Teleamazonthe veto document proposes that the president can modify the IVA up to no more than 15%, depending on the economic needs of the Ecuador.
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