NewsWhore
11-24-2006, 03:00 PM
The Association of Industries of the Dominican Republic (AIRD) believes that the government could cut RD$29 billion in spending, more than enough to make an increase in taxes unnecessary. AIRD's plan draws on many of the suggestions that opponents have been voicing since President Leonel Fernandez explained the details of the reform to the nation. The government is looking to collect RD$17,500 million.
AIRD representatives met with the press yesterday and proposed that the government eliminate RD$9.5 billion in electricity subsidy, RD$2.9 billion in propane gas subsidy, RD$11.9 billion of its current expenditure (without affecting the education or health sectors, but by cutting its advertising budget and the government payroll) and RD$4.8 billion by adjusting capital expenditure (a reduction in Metro funds). Microfinanzas' Hector Salcedo presented the counter-proposal, as reported in El Caribe. Interestingly, AIRD's calculations are based on an exchange rate pegged at RD$38.15.
Mercedes Ramos, speaking for the Organization of Commercial Malls (ONEC), an AIRD member, commented that every time taxes are increased, the gap between the formal and informal sector, between those who pay taxes and those who don't widens.
More... (http://www.dr1.com/index.html#4)
AIRD representatives met with the press yesterday and proposed that the government eliminate RD$9.5 billion in electricity subsidy, RD$2.9 billion in propane gas subsidy, RD$11.9 billion of its current expenditure (without affecting the education or health sectors, but by cutting its advertising budget and the government payroll) and RD$4.8 billion by adjusting capital expenditure (a reduction in Metro funds). Microfinanzas' Hector Salcedo presented the counter-proposal, as reported in El Caribe. Interestingly, AIRD's calculations are based on an exchange rate pegged at RD$38.15.
Mercedes Ramos, speaking for the Organization of Commercial Malls (ONEC), an AIRD member, commented that every time taxes are increased, the gap between the formal and informal sector, between those who pay taxes and those who don't widens.
More... (http://www.dr1.com/index.html#4)