Local September 8, 2020 | 8:06 am

Dominican Tax Agency revenue dips 5.7% to US$4.2B

Santo Domingo.- The collections obtained by Internal Taxes (DGII) from January to July failed to comply with the Finance Ministry’s estimate for that period, of 94.3% in relation to what was projected.

During the first seven months of the year, Internal Taxes collected RD$242.8 billion (US$4.2 billion), lower by RD$14.7 billion with the re-estimate by the Treasury for the period January-July 2020, which was RD$257.6 billion.

“The main differences with the estimate are found in the taxes that have been most affected as a result of the COVID-19 pandemic,” says the report from the tax agency.

The income tax (ISR) on sales to the State, the selective alcohol and tobacco and the different taxes on mining, were the three concepts that met the re-estimate of income made by the Treasury for January-July.

For the income tax on sales to the State, the DGII managed to collect RD$5.5 billion, surpassing the re-estimate by RD$923.6 million, equivalent to a compliance of 120.3%.

Meanwhile, for the selective alcohol and tobacco, the collecting entity achieved revenues of RD$11.9 billion, higher than the RD$11.2 billion that the Treasury had re-estimated for the January-July period.

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