Tag: Ecuador taxes

• Thursday, April 21st 2016 - 12:16 UTC

  Ecuador raises taxes to rebuild cities devastated by major earthquake which continues with aftershocks

  

  President Rafael Correa announced Wednesday night that he is raising sales taxes and will charge a one-time levy on millionaires to rebuild cities devastated by Ecuador's worst earthquake in decades. In a televised address, Correa said damages from the 7.8-magnitude quake will likely run into the billions of dollars, adding to already heavy economic hardships triggered by the collapse in world oil prices.