News

Poultry genetic material in Ecuador began to be taxed at 12% VAT

Frozen Whole Chicken
Meat
Ecuador
Regulation & Compliances
Chicken Egg
Dairy
Market & Price Trends
Published Nov 28, 2023

Tridge summary

The National Corporation of Poultry Farmers of Ecuador (CONAVE) has criticized former President Guillermo Lasso's decision to impose a 12% VAT on the import of genetic material. This decision is expected to result in an additional cost of $3 million annually for the poultry sector, ultimately affecting consumers. CONAVE is urging the new government to reconsider this measure to avoid increasing the price of essential foods like chicken meat and eggs in the country.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The former president, Guillermo Lasso, made last-minute decisions that could influence the increase in the cost of chicken meat and eggs. The order to levy a 12% VAT on the import of genetic material generates an additional cost of 3 million dollars annually for the poultry sector, which will directly affect the pocket of the Ecuadorian consumer. This is warned by the National Corporation of Poultry Farmers of Ecuador (CONAVE) in a statement, which points out that the National Customs Service of Ecuador (SENAE) ignores the pronouncements of the Ministry of Agriculture and Livestock (MAG) and the Revenue Service. Internal Regulations (SRI) to apply the 0% rate of Value Added Tax (VAT) to the import of poultry genetic material. We invite you to read: “Egg production dropped by 30%” Since September 2023, the Lasso Government determined the collection of 12% VAT on the external purchase of breeding birds, material that is imported for the production of chicken meat and table eggs in ...
Source: Expreso
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