NewsWhore
01-22-2009, 06:00 PM
As a result of the economic contraction caused by the global economic crisis, the year has begun with less money entering the national coffers.
According to official figures, as of 19 January 2009, collections have fallen by RD$9.43 billion after reaching RD$12.4 billion during the same period in 2008.
The greatest reduction came in customs collections, which went down from RD$2.952 billion to just RD$1.70 billion for the period. This was influenced by two elements: the crisis and the lowering of tariffs according to international agreements.
In the case of the Tax Department, collections fell from RD$7.97 billion to RD$6.215 billion. At the same time, Treasury receipts also went down from RD$1.4 billion to RD$1.35 billion. These figures do not include foreign or local loans.
According to Hoy, one element that stands out is the fact that the selective tax on fuels fell from RD$862 million to RD$331 million. Collections for this tax represented 38.4% of what was collected in the former period and 52.9% of what was budgeted.
This could provide an explanation for the very controversial increase in the price of fuels last week, despite the fact that world oil prices reached new lows.
More... (http://www.dr1.com/index.html#5)
According to official figures, as of 19 January 2009, collections have fallen by RD$9.43 billion after reaching RD$12.4 billion during the same period in 2008.
The greatest reduction came in customs collections, which went down from RD$2.952 billion to just RD$1.70 billion for the period. This was influenced by two elements: the crisis and the lowering of tariffs according to international agreements.
In the case of the Tax Department, collections fell from RD$7.97 billion to RD$6.215 billion. At the same time, Treasury receipts also went down from RD$1.4 billion to RD$1.35 billion. These figures do not include foreign or local loans.
According to Hoy, one element that stands out is the fact that the selective tax on fuels fell from RD$862 million to RD$331 million. Collections for this tax represented 38.4% of what was collected in the former period and 52.9% of what was budgeted.
This could provide an explanation for the very controversial increase in the price of fuels last week, despite the fact that world oil prices reached new lows.
More... (http://www.dr1.com/index.html#5)