The Analysis of the new tax reform in force based on the organic law for economic development and fiscal sustainability after the covid 19 pandemic Analysis of the new tax reform

Abstract

http://doi.org/10.58515/001RSPT

In general, the Organic Law for economic development and fiscal sustainability after the COVID 19 pandemic states that those who have the most resources and were least affected by the pandemic sustain the bulk of tax collection through this project. Specifically, actions are proposed on income tax, wealth, profits and assets abroad. In addition, the regime for microentrepreneurs is eliminated, and the Simplified Regime for Entrepreneurs and Popular Businesses RIMPE is created, in this sense entrepreneurial taxpayers whose income does not exceed USD 300,000 per year and popular businesses with income of up to USD 20,000 per year will be eligible.

In addition, reductions in the Value Added Tax (VAT) and Special Consumption Tax (ICE) rates are defined for several sectors, such as the reduction of the VAT rate, from 12% to 8%, for tourist activities during holidays or weekends, with a maximum of 12 days or exemption from payment of VAT on services provided by chambers of production, unions and the like, which charge their members fees, rates or fees of up to USD 1,500 per year and to accommodation establishments for foreign tourists, who stay in the country for less than 90 days.