Economy October 15, 2020 | 9:12 am

Banks will advance US$345.0M in tax payments

Santo Domingo.- Dominican Republic Central Banker Héctor Valdez Albizu, held a meeting with the representatives of the Association of Commercial Banks of the Dominican Republic (ABA), the Association of Savings Banks and Credit Corporations (Abancord) and the Dominican League of Savings and Loans Associations (Lidaapi).

During the meeting, topics were discussed on the mechanism of solidarity contributions that entities belonging to the Dominican Financial System will make during 2021, in their commitment to contribute to the availability of resources to contribute to financing the Budget.

In the meeting held Wed., the new executive president of the ABA, Rosanna Ruiz, presented a document agreed between the members of the financial system that stipulates quarterly payments totaling RD$20.0 billion (US$345.0 million) in advance to the fiscal authorities from the entities of the financial system, distributed according to the size of the net financial assets of each entity during 2021.