Car cost to increase

[NewsWhore]

The cost of owning a car will increase by 15% to 20%, according to the Association for Vehicle Concessionaires (Acofave) due to the proposed "right to circulate" tax included in the new fiscal reform. Acofave executive vice president Enriquez Fernandez says that this added RD$5 tax on fuel would not only affect transportation but foods, goods and services. Fernandez used the example of a Jaguar that costs RD$3 million that will have to pay RD$30,000 under the new tax, which would be the same for a freight truck. Speaking in Diario Libre, Fernandez explains that luxury vehicles and freight vehicles will pay the same tax, but that the increased cost for circulation of a freight truck will be added to consumer products like food, which will then be passed on to the consumer.

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