Bill would repeal taxes on savings

Santo Domingo.- With the aim of eliminating the savings tax, established in article 7 of Law 253-12, on Strengthening the State’s Collection Capacity for Fiscal Sustainability and Sustainable Development, a bill was submitted to the Chamber of Deputies on Tue..

The initiative, authored by PRM deputy Juan José Rojas, seeks to repeal the aforementioned article on the understanding that if saving is discouraged, it would negatively impact investment and therefore the development of the country, contributing to economic growth.

Article 7 of Law 253-12 is an introduction to Article 308 Bis in the Tax Code of the Dominican Republic, established by Law 11-92 and its amendments.