NewsWhore
09-20-2010, 03:30 PM
Collections by the Department of Taxes (DGII) increased by 15% in August and have gone up 9.1% during the first eight months of the year. In August the agency collected RD$15.51 billion, which is RD$2.13 billion more that the same period last year. In the meantime, the collection for the year, over the first eight months, climbed to RD$124.96 billion, which is RD$10.44 billion more than last year.
According to figures from the DGII webpage, with regard to the income established in the National Budget, in August the agency complied in 102.7% of the estimated figure, with a RD$415.5 million surplus.
The specific Selective Consumer Tax (ISC) on Hydrocarbons showed another deficit in comparison with the previous year, resulting in a deficit with respect to the RD$395.3 that was estimated. So far this year this deficit has climbed to RD$2.29 billion. The agency says that despite having made some modifications in the amounts of the specific tax on hydrocarbons, the targets agreed to with the International Monetary Fund have yet to be reached, and this has a direct effect on the deficit.
The DGII says that the growth in collections for August is explained by the good performance of the agency in collecting taxes on property and consumption. Property taxes grew by 36%, pushed by property transactions for RD$119.5 million in increases and the tax on vehicle registration or the first license plate with RD$62.5 million more than August 2009.
According to the DGII, the Tax on the Transfer of Industrialized Goods and Service (ITBIS, the DR version of the VAT) grew by 2.2% in August, going from RD$3.60 billion in 2009 to RD$3.68 billion with an increase of RD$80.1 million. Referring to the estimated collections, the agency reached 87% despite the growth in the taxed operations.
The deficit of RD$558 million compared to the goal is explained by the 46% increase of the prepaid VAT in the Department of Customs on imports of raw materials and machinery.
More... (http://www.dr1.com/index.html#5)
According to figures from the DGII webpage, with regard to the income established in the National Budget, in August the agency complied in 102.7% of the estimated figure, with a RD$415.5 million surplus.
The specific Selective Consumer Tax (ISC) on Hydrocarbons showed another deficit in comparison with the previous year, resulting in a deficit with respect to the RD$395.3 that was estimated. So far this year this deficit has climbed to RD$2.29 billion. The agency says that despite having made some modifications in the amounts of the specific tax on hydrocarbons, the targets agreed to with the International Monetary Fund have yet to be reached, and this has a direct effect on the deficit.
The DGII says that the growth in collections for August is explained by the good performance of the agency in collecting taxes on property and consumption. Property taxes grew by 36%, pushed by property transactions for RD$119.5 million in increases and the tax on vehicle registration or the first license plate with RD$62.5 million more than August 2009.
According to the DGII, the Tax on the Transfer of Industrialized Goods and Service (ITBIS, the DR version of the VAT) grew by 2.2% in August, going from RD$3.60 billion in 2009 to RD$3.68 billion with an increase of RD$80.1 million. Referring to the estimated collections, the agency reached 87% despite the growth in the taxed operations.
The deficit of RD$558 million compared to the goal is explained by the 46% increase of the prepaid VAT in the Department of Customs on imports of raw materials and machinery.
More... (http://www.dr1.com/index.html#5)