NewsWhore
07-26-2010, 06:00 PM
Hacienda Minister Vicente Bengoa said that the changes proposed to Law 112-00 on Hydrocarbons will not bring an increase in taxation, but rather an improvement in tax collection management, including making the Department of Taxes (DGII) solely responsible for collections, as reported in Diario Libre. He said the proposal is for indexation for inflation would be carried out annually and not quarterly as at present. He said the indexation will be carried out by resolution of the Ministry of Industry and Commerce and in a gradual manner, and thus does not have to go to Congress. He said the indexation was interrupted when the price of fuel rose to almost US$150. At the time, he said if indexation had continued, the price of fuel would have climbed to RD$250 the gallon.
He said that selective taxes on consumption on rum, beer, and cigarettes and other luxury items are indexed annually.
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He said that selective taxes on consumption on rum, beer, and cigarettes and other luxury items are indexed annually.
More... (http://www.dr1.com/index.html#2)