Ecuador to temporarily cut tax on beer during World Cup

Ecuadorian President Daniel Noboa announced a temporary tax break on beer and other "moderation beverages" to coincide with the FIFA World Cup. Effective until July 19, the special consumption tax (ICE) will be removed, a move Noboa expects will reduce beer prices by more than 20%.

"From the Government, we are also going to give extra support during the World Cup, which is that for all moderation beverages, including beer, we are going to remove the ICE until July 19," the president stated during an event. He appeared at the event wearing a national team jersey, emphasizing the country's excitement for the tournament.

Noboa justified the measure by noting the widespread focus on football across Ecuador. "This is a country that likes to be with friends, with family watching the games," he said. The tax reduction aims to allow citizens to "enjoy the World Cup in the best way." The government has not yet specified the exact start date for the tax elimination.

The announcement comes as Noboa prepares for an official trip to the United States, which coincides with the World Cup's opening. This trip follows criticism regarding the number of international travels he has undertaken since taking office in November 2023, though he maintains these trips are for attracting investment and securing agreements.