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Bloomberg – Ecuador Ruling Party ‘Certain’ Tax Law Will Pass, Lawmaker Says

Date: Oct 26, 2011

Ecuador to raise taxes for the ninth time since 2007:

The tax increase, which would raise the cost of alcohol by 75 percent, “will continue funding a gigantic budget that has devoured not only the hopes of the nation’s industrial sector, but also its middle class,” Blasco Penaherrera, president of the Quito Chamber of Commerce, said in an Oct. 24 e-mailed statement.

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