NewsWhore
06-19-2008, 02:10 PM
Government revenues continue to increase over what was estimated for the year. The government is reporting revenues of RD$108.8 billion for the first five months of the year, up from RD$99.38 billion in 2007. The revenues are 43.6% of the estimate for the entire year, and the pace of collections is greater than projected. Nevertheless, Listin Diario points out that revenues in May fell slightly below projections. Revenue collection grew by 9.5% in comparison to the first five months of 2007. In 2007 the government collected RD$99.4 billion between January and May 2007. The National Budget is for RD$300.89 billion, which is 16.4% more than in 2007. The 2008 budget projected that local tax revenues would reach RD$249.6 billion, and allocated RD$70 billion to pay for the foreign debt.
Income tax collection during this period increased by 58.4% compared to the first five months of 2007. Property tax increased by 63.6%. ITBIS (VAT) collection grew by 16.1% and taxes on foreign trade grew by 6.3%, going from RD$9.6 billion between January and May 2007 to RD$10.2 billion for that same period in 2008. Tax Department (DGII) collections grew by 13.9%, going from RD$64.6 billion in the first five months of 2007 to RD$73.7 billion for the same period in 2008.
See www.finanzas.gov.do (http://www.finanzas.gov.do)
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Income tax collection during this period increased by 58.4% compared to the first five months of 2007. Property tax increased by 63.6%. ITBIS (VAT) collection grew by 16.1% and taxes on foreign trade grew by 6.3%, going from RD$9.6 billion between January and May 2007 to RD$10.2 billion for that same period in 2008. Tax Department (DGII) collections grew by 13.9%, going from RD$64.6 billion in the first five months of 2007 to RD$73.7 billion for the same period in 2008.
See www.finanzas.gov.do (http://www.finanzas.gov.do)
More... (http://www.dr1.com/index.html#1)