Global eyes observe Dominican tax reform process

Santo Domingo.-In reports prepared this year by international financial entities, the expectations for the execution of the reform or fiscal pact in the Dominican Republic are reflected with a view to reducing the level of indebtedness of the country and maintaining its rating.

Analysts from Barclays, JP Morgan, Moody’s and the IMF agree in reports released separately on the need for the country to strengthen its fiscal framework.

On October 7, analysts at J.P. Morgan highlighted that the Ministry of Finance presented the national budget for next year on the 1st of this month. “The fact that there was no tax reform proposal was somewhat disappointing,” they said.

Moody’s analysts had already issued a critical report on March 26 in which they indicated that a committee was convened in that month to discuss the country’s rating. Among the main points raised was that the issuer’s fiscal or financial strength, including its debt profile, has decreased substantially.