Economy July 22, 2022 | 7:39 am

Tax reform ‘inevitable’ in Dominican Republic

Santo Domingo.- Minister of the Environment and Natural Resources, Miguel Ceara Hatton, assured that fiscal reform would be “inevitable” because the country spends more than it receives.

For months, from time to time, this possibility has been raised, which is rejected by broad social sectors on the grounds that the population cannot bear more tax burdens.

“We have a structural deficit that is around 3%, that is, we spend an average of 3% more than we receive in income,” he stressed.

He added that “to all these efforts that have been made in legal matters of transparency, to improve the efficiency of the State, zero democracy, if all we are trying to do is part of what needs to be advanced on the spending side, because that’s not enough,” he said.

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Paul Tierney
July 22, 2022 9:46 am

You can bet on it there will be increases of taxes and fees that do exist… and then there will be new additional taxes on clothing, appliances, vehicles, and vehicle parts. The shrinking middle class population as always will be hit the hardest.

Tax reform should include foreign based companies doing business in the RD be taxed at higher rates if the money they send offshore exceeds a set percentage of their gross income. The incentive for government is to move them to spread their revenue into the Dominican economy, not to overseas pockets. Reduce the favor to foreign hospitality companies to enjoy the tax free allowances they have to import goods to the RD. They should be bound first to purchase Dominican made goods tax free and taxed for imports.

Snazz
July 22, 2022 12:12 pm

How about you stop throwing money to thr trash and remove tax exemptions and lower ridiculous salaries