NewsWhore
07-28-2010, 03:10 PM
Leading business organizations say that Hacienda Minister Vicente Bengoa is trying to confuse people with euphemisms about his proposed modifications to the Pro Industry Competitiveness Law and the Hydrocarbons Law. The business sector is uniting against the government's attempts to resolve its deficit by increasing the tax burden on business. They called for President Fernandez and his economic team to stop what they say is a counter-reform and a step backwards for the country. They oppose the reinstatement of VAT taxes on raw materials, again to be handled in Customs.
As reported in Diario Libre, the business representatives say that in less than two years since the enactment of the Competitiveness Law there are positive results: Of the 286 businesses registered in Pro-industry, 139, nearly 50%, are exporting businesses. During 2009 these companies exported goods and services for a total of US$601.7 million, which represents 36% of all the nation's exports for that year.
"These few companies qualified by Pro-industry generate 68,925 direct jobs in the formal sector and 75% of them are either micro-, small- or medium-sized businesses" they said, as reported in Diario Libre. They argued that the results have been achieved despite the small budget managed by Pro-industry, and at a minimal fiscal cost to the government. This is because the tax burden that some studies indicate is relieved by not paying VAT in Customs is recovered in a few days with the collection of these same taxes by the Department of Taxes (DGII)".
This stance was taken in a joint declaration by 17 groups headed by the Association of Industries of the DR (AIRD), the Association of Industries of the North Region (AIREN), the Association of Industries of Haina (AEIH), the Dominican Exporters Association (Adoexpo), the Haina Industries and Businesses Association (AIE-Haina), the Dominican Pharmaceutical Industries (Infadom) and others.
The manufacturers say that the measure proposed by Hacienda would set a new obstacle to the development of the nation's manufacturing industries export capability. They said it was also a bad sign for Dominican society at a time when there is talk of reaching a consensus on a national development strategy that strengthens the productive sectors and generates more employment in the formal sector.
More... (http://www.dr1.com/index.html#5)
As reported in Diario Libre, the business representatives say that in less than two years since the enactment of the Competitiveness Law there are positive results: Of the 286 businesses registered in Pro-industry, 139, nearly 50%, are exporting businesses. During 2009 these companies exported goods and services for a total of US$601.7 million, which represents 36% of all the nation's exports for that year.
"These few companies qualified by Pro-industry generate 68,925 direct jobs in the formal sector and 75% of them are either micro-, small- or medium-sized businesses" they said, as reported in Diario Libre. They argued that the results have been achieved despite the small budget managed by Pro-industry, and at a minimal fiscal cost to the government. This is because the tax burden that some studies indicate is relieved by not paying VAT in Customs is recovered in a few days with the collection of these same taxes by the Department of Taxes (DGII)".
This stance was taken in a joint declaration by 17 groups headed by the Association of Industries of the DR (AIRD), the Association of Industries of the North Region (AIREN), the Association of Industries of Haina (AEIH), the Dominican Exporters Association (Adoexpo), the Haina Industries and Businesses Association (AIE-Haina), the Dominican Pharmaceutical Industries (Infadom) and others.
The manufacturers say that the measure proposed by Hacienda would set a new obstacle to the development of the nation's manufacturing industries export capability. They said it was also a bad sign for Dominican society at a time when there is talk of reaching a consensus on a national development strategy that strengthens the productive sectors and generates more employment in the formal sector.
More... (http://www.dr1.com/index.html#5)