NewsWhore
03-03-2009, 06:20 PM
The Director General of the Department of Taxes (DGII) has announced that tax relief measures adopted barely a year ago to help the farm sector after the devastation caused by tropical storms Noel and Olga would be continued throughout 2009. General Regulation 02-09 on Taxes allows the farm sector to be exempt from payment of the anticipated Income Tax (ISR), the tax on assets and the deduction of tax on income from the payments made by the state until the end of fiscal 2009. Regulation 1-2008, dated 28 January 2008, established the exemptions that gave the farm sector some breathing space after being so hard hit by the storms. The relief seeks to improve farm conditions and allow for the sustainability of the country's food supply. The Tax Code allows the DGII to award exemptions on certain taxes such as the advances on the payment of income taxes.
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