Economy June 28, 2016 | 11:39 am

Buy car in DR

Tax-free fuels ‘abhorrent,’ tax breaks for free zones OK: Official

Santo Domingo.- Industry and Commerce minister José delCastillo on Tuesday called tax-free fuels and all laws which encourage subsidies”abhorrent,” but defended the exceptions given to other sectors.

The official called for a discussion, prior to the signingof a fiscal pact, on the exemptions granted to the freight and passenger transportunions and companies that benefit from low taxes for fuels which exceed theirneeds.

He also cited other incentives such as for companiesestablished along the border, which he affirms haven’t met the expectations forwhich they were allocated, with only a few have benefited. “In most cases they’reunfair competition against other companies established in the country.”

Del Castillo nonetheless defended other incentives, such asthose for the free zones, which he says have led the operations of 640companies in the country, providing 160,000 direct jobs and 60 percent of thecountry’s exports, worth US$5.5 billion annually.

0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments