NewsWhore
09-20-2011, 05:40 PM
The National Business Council (Conep) asked yesterday for the consequences of the application of the general rule number 13-2011, which is aimed at forcing banking and financial institutions to withhold 1% of the interests that the companies receive for their deposits, to be studied and revised. Conep, which is headed by Manuel Diez Cabral, is supporting the stance taken by both the Commercial Banking Association and the Foundation for Institutionalism and Justice (Finjus) who asked the General Directorate of Internal Taxes (DGII) to revoke the rule because it contains aspects that affect its legal validity and because it contradicts the Tax Code and the Monetary and Financial Code. The business entity reiterated its call to bring about judicial safety and respect for the rule of law and said that dispositions that affect the investment climate for the productive sectors should not be adopted. They also warned of the damaging effects of the constant changing of the rules.
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