Economy June 10, 2022 | 9:29 am

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Taxman collects US$1.1B in May

Santo Domingo.- Internal Taxes (DGII) reported this Tuesday that the collection for May amounted to RD$62.5 billion (US$1.1 billion), which represents RD$13.7 billion more than in the same month of 2021.

The general director of Internal Taxes, Luis Valdez Veras, indicated in a press release that “these collection levels are what have allowed the granting of more than RD$18.0 billion in subsidies to avoid the increase in fuels due to the crisis generated for the war between Russia and the Ukraine.”

“It is these levels of compliance in the collections that have allowed our Government to be able to sustain the enormous sacrifice that this fuel subsidy means, money that in other circumstances President Abinader would have allocated to infrastructure works and other actions.”

In May of last year RD$48.7 billion entered, so the collection corresponding to the current period represents a growth of 28.3%.

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