Ecuador’s Lasso Moves to Hit the Ground Running With Tax Reform
- Lasso wants entrepreneurs to pay their share of income taxes
- Looks to cut taxes, encourage business and balance the budget
Guillermo Lasso
Photographer: Vicho Gaibor/BloombergThis article is for subscribers only.
Ecuador’s President-elect Guillermo Lasso plans to introduce tax reforms as soon as he takes office next month aimed at encouraging commerce and boosting government revenue with an eye on balancing the budget by the end of his term.
The 65-year-old career banker, who with Sunday’s election victory becomes first fiscal conservative to govern Ecuador in close to two decades, wants to cut taxes rather than increase them. Lasso is banking on the combination of lower tax rates and stepped-up collection that deters tax evasion.