Tax collections up

[NewsWhore]

The Tax Department (DGII) reports that it has been able to lower ITBIS (VAT) evasion by 10 points since the new government took power in August 2004. As reported in Diario Libre, this means that the government received RD$29.5 billion in ITBIS in 2006, 15% more than the previous year. The DGII reports that while sales in the DR were up by 32.4% in 2006, sales with the ITBIS applied increased 42%. Hernandez said that at the change of government in 2004, ITBIS evasion was at 42%. He estimates that evasion is currently around 31%. Most goods and services in the DR are subject to a 16% ITBIS tax.

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