Bengoa Plan is anti-competitiveness

[NewsWhore]

Hacienda Minister Vicente Bengoa's plan to eliminate fiscal incentives for the industrial sector is an assault on the National Systemic Competitiveness Plan because the fiscal distortions that had been overcome will be back, says the director of the National Competitiveness Council, Andres Van der Horst Alvarez. As reported in 7dias.com.do, Van der Horst Alvarez said that the bill sent to Congress by Hacienda seeks to eliminate incentives included in the Industrial Competitiveness and Innovation Law 392-07. He expressed concern that the ITBIS (IVA) on raw materials will be again charged in Customs. He said this means that manufacturers will be paying the tax twice - once when the raw materials are imported, and then again when the goods are sold on the local market.

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