NewsWhore
08-18-2010, 03:40 PM
Although tax collections, taking into consideration tax receipts and other income sources, have been adequately fulfilled, but not including donations, during the first half of the year, there was a slight decrease of some RD$1.2 billion between what was collected and what was projected. Therefore, in the first half of the year, income reached RD$125.82 billion, against an IMF estimate for RD$127.09 billion.
Tax collections totaled RD$120.08 billion, against RD$122.68 that was estimated by the Ministry of the Hacienda, a difference of RD$1.6 billion. Nevertheless, if this is compared with the document annexed to the agreement with the International Monetary Fund (IMF), the tax income projection for the first half is not RD$121.68 billion, but rather RD$126.7 billion, a RD$5 billion difference.
If there is a comparison between what was collected in the first half of the year, which was RD$120.09 billion, with what was contemplated in the IMF agreement, which was RD$126.7 billion, there is a shortfall of RD$6.7 billion in the tax income category.
When consulted, economist Henri Hebrard said that while it was true that collections have increased, they have been short in comparison to IMF projections, especially in some items such as Value Added Tax (ITBIS) where collections have surpassed the IMF projection. Mid-year VAT collections totaled RD$39.4 billion, far more than the RD$37.5 billion projected by the IMF. In the case of taxes on foreign trade, there has been a significant shortfall. RD$10.92 billion was collected, while the IMF projected income of RD$15.6 billion, a significant difference. RD$25.8 billion in income taxes and property taxes was collected, but the International Monetary Fund projection was for RD$38.8 billion.
More... (http://www.dr1.com/index.html#5)
Tax collections totaled RD$120.08 billion, against RD$122.68 that was estimated by the Ministry of the Hacienda, a difference of RD$1.6 billion. Nevertheless, if this is compared with the document annexed to the agreement with the International Monetary Fund (IMF), the tax income projection for the first half is not RD$121.68 billion, but rather RD$126.7 billion, a RD$5 billion difference.
If there is a comparison between what was collected in the first half of the year, which was RD$120.09 billion, with what was contemplated in the IMF agreement, which was RD$126.7 billion, there is a shortfall of RD$6.7 billion in the tax income category.
When consulted, economist Henri Hebrard said that while it was true that collections have increased, they have been short in comparison to IMF projections, especially in some items such as Value Added Tax (ITBIS) where collections have surpassed the IMF projection. Mid-year VAT collections totaled RD$39.4 billion, far more than the RD$37.5 billion projected by the IMF. In the case of taxes on foreign trade, there has been a significant shortfall. RD$10.92 billion was collected, while the IMF projected income of RD$15.6 billion, a significant difference. RD$25.8 billion in income taxes and property taxes was collected, but the International Monetary Fund projection was for RD$38.8 billion.
More... (http://www.dr1.com/index.html#5)