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Santo Domingo.- Despite the government's repeated argument that the public debt, now at 50% of GDP), isn't cause for concern, economists and business leaders disagree.

For the national young business leaders grouped in ANJE the public debt has already reached unsustainable levels.

The Dominican Republic has the need to reach a fiscal pact in a timely manner in the face of a situation of economic stability like the current one and not at the edge of a fiscal precipice, that could trigger one more "paquetazo," the Dominican moniker for a tax increase.

The ANJE said the tax structure should be simplified by eliminating distortions caused by the multiple tax patches that generate inequality among taxpayers. "In this regard, the report published by IMF staff on February 13 has been stated in its comments, stating that fiscal consolidation should be based on a tax base that simplifies the tax system and makes it more equitable."

During an event hosted by ANJE, its president Eugene Rault Grullón said they expect the country to forge a fiscal pact by yearend 2017.

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3 comment(s)
Written by: chillinout, 17 Feb 2017 12:16 PM
From: Dominican Republic
When it comes to personal income taxes it's pretty simple. No joint returns, no deduction for kids, no mortgage interest deduction, no medical expenses deduction. The only deduction allowed is for education.
Written by: Ricardolito, 17 Feb 2017 4:27 PM
From: Dominican Republic, Zona Colonial
50% is nothing when the economy is growing at 5% , the inflation is under 3 % , and the cost of refinancing is much lower than when the loans were originally taken out . Again, this pathetic journalism ,saying that economists and business leaders disagree ... NO NO .only some disagree and others give their full support ,including IMF and World Bank
Written by: DomRat, 17 Feb 2017 11:28 PM
From: Dominican Republic
Cut spending and very high salaries to persons of questionable ability hired to do questionable 'jobs'. I gets worse as time passes as they will be in line for equally huge pensions for the rest of their lives. Perks include autos with fuel allowances, security personal, office expenses - it goes on. Get lean and mean.
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