Economy March 7, 2018 | 12:13 pm

Buy car in DR

Top official favors revising the tax breaks, incentives,

D. Guerrero. Photo

Santo Domingo.- Finance minister Donald Guerrero on Tues. said he’s in favor of revising the Government’s tax exemptions and incentives, as a way to expand the taxpayer base and increase collection.

The official said the tax rates are already high and cannot be increased to bolster the revenue that the country requires.

“We have rates of 27%, 25%, 18% of the Itebis (VAT) and those rates cannot go higher.”

The official was responding to Mexican economist Raúl Féliz, who said the country needs to improve public spending, review exemptions and increase collection to maintain a stable fiscal deficit at a low percentage.

Speaking at the II Banreservas Business Breakfast, Feliz stressed that that’s the local economy’s current challenge.

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