NewsWhore
12-14-2010, 03:40 PM
The president of the Dominican Republic Association of Industries (AIRD), Manuel Diez Cabral, said that Minister of Hacienda Vicente Bengoa's statements about the 30% increase in ITBIS collections (VAT) on raw materials and capital goods in Customs is due to the fact that they have not been able to compensate for all the tax paid in advance and they have not granted all of the credits or repayments on these taxes to the producers of tax-free goods or to the exporters.
Diez said that just as the AIRD had warned, what is happening is a momentary increase in ITBIS taxes that will have to be reversed in the coming months, when the DGII complies completely with the dispositions of the Tax Code and extends the credits or the repayments to the producers of goods that are ITBIS-free or are for export. According to Hoy newspaper, 50% of the final products produced in the country are tax (ITBIS)-exempt.
More... (http://www.dr1.com/index.html#6)
Diez said that just as the AIRD had warned, what is happening is a momentary increase in ITBIS taxes that will have to be reversed in the coming months, when the DGII complies completely with the dispositions of the Tax Code and extends the credits or the repayments to the producers of goods that are ITBIS-free or are for export. According to Hoy newspaper, 50% of the final products produced in the country are tax (ITBIS)-exempt.
More... (http://www.dr1.com/index.html#6)