Economy October 13, 2021 | 10:37 am

Industries say yes to strategy; no to ‘short-termism’

Santo Domingo.- The business sector of the Dominican Republic demands that the country comply with the National Development Strategy Law to address a fiscal pact and not a reform as the Government is managing, and warns that this would put a brake and constitute an obstacle to the country’s economic recovery after being rocked by COVID-19.

Yesterday, the Dominican Republic Industries Association (AIRD) said that, given the situation created by the COVID-19 pandemic, “this is not the time for a hasty tax reform, especially when the high prices of commodities and the extraordinary increases in maritime freight are external factors that companies have assimilated momentarily, but which at a certain moment could translate, together with a short-term tax reform scheme, into an inflationary pressure that is difficult to overcome.”

“It is necessary to put an end to short-termism in fiscal matters – AIRD added – and embrace the mandate of the National Development Strategy Law, which indicates that the Economic and Social Council is the space for discussion and concretion of pacts between the different economic forces. and social that allow the adoption of policies that, by their nature, require a commitment from the State and the participation of the entire nation, such as the Fiscal Pact, aimed at financing sustainable development and guaranteeing long-term fiscal sustainability, through a comprehensive tax restructuring.”

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