NewsWhore
06-21-2011, 05:20 PM
The ruling PLD majority Chamber of Deputies did not waste too much time and approved in the first reading, the legislative proposal to increase the tax income with two modifications. In one of them the Income Tax on businesses was increased from 25% to 29% (the proposal was to increase to 27%), and in the other, they eliminated the 0.15% tax on cash withdrawals from banks and other financial institutions.
The governments hopes that this legislation will enable it to collect RD$9.6 billion to cover the fiscal deficit and it projects collections to reach RD$4 billion with the increased income tax.
The measures will be in effect for two years. 97 deputies voted in favor, 77 voted against. At the time of voting, 174 of the 183 deputies were present.
More... (http://www.dr1.com/index.html#3)
The governments hopes that this legislation will enable it to collect RD$9.6 billion to cover the fiscal deficit and it projects collections to reach RD$4 billion with the increased income tax.
The measures will be in effect for two years. 97 deputies voted in favor, 77 voted against. At the time of voting, 174 of the 183 deputies were present.
More... (http://www.dr1.com/index.html#3)