NewsWhore
09-07-2010, 03:20 PM
The Department of Customs has managed to secure 85% of companies that had been authorized to pay ITBIS once manufactured goods were sold to the public to pay at Customs once the raw materials for the production is imported. The businesses had benefitted from Law 392-07 and were paying ITBIS after the goods were sold to customers. Customs asked them to "voluntarily" waive their rights under the law and pay the taxes to help the government improve its cash flow.
The government expects to receive an extra RD$1.3 billion this year and RD$3.72 billion next year. 58 companies have adhered to the change in plans.
Customs director Rafael Camilo said that 15% of the remaining companies have been allowed to keep the benefit of Pro Industry Law 392-07 because they are small and the change would affect their own cash flow. The change will remain in effect through December 2011.
Camilo denied that this represented a violation of the law, as Ignacio Mendez of the Federation of Industrial Associations has complained. "With the agreements we are not violating the law. What the law does is authorize a benefit, but if the manufacturers voluntarily renounce their right to the benefit, then there is no violation," said the director of the DGA, as reported in El Caribe.
More... (http://www.dr1.com/index.html#4)
The government expects to receive an extra RD$1.3 billion this year and RD$3.72 billion next year. 58 companies have adhered to the change in plans.
Customs director Rafael Camilo said that 15% of the remaining companies have been allowed to keep the benefit of Pro Industry Law 392-07 because they are small and the change would affect their own cash flow. The change will remain in effect through December 2011.
Camilo denied that this represented a violation of the law, as Ignacio Mendez of the Federation of Industrial Associations has complained. "With the agreements we are not violating the law. What the law does is authorize a benefit, but if the manufacturers voluntarily renounce their right to the benefit, then there is no violation," said the director of the DGA, as reported in El Caribe.
More... (http://www.dr1.com/index.html#4)