NewsWhore
01-04-2012, 11:50 AM
There is speculation in the press that once the 20 May 2012 election is over, the PLD-majority Congress will pass a major tax reform. The usual result of tax reforms is an increase in taxes that in the past has enabled the government to continue heavy spending. The Fernandez administration is ranked tops in wasteful spending by the World Economic Forum (http://www.weforum.org/).
For years the Fernandez government has resisted applying austerity measures, and government perks and fancy government offices need to be paid for by the taxpayer.
The president of the Senate Hacienda Commission, Tommy Galan said that this time the tax reform is a petition by the National Business Council and is contemplated in the bill that creates the Fundamental Law for the National Development Strategy. "At no time has the government or Congress considered carrying out a reform. This is a proposal from Conep on the grounds that the country cannot continue make reforms to place patches, but that it has to rectify situations of the domestic economy," he said, as reported in El Dia. He said that what they are considering is a comprehensive reform of all the Dominican tax system.
The Senator for Azua, Rafael Calderon denied that PLD candidate Danilo Medina will carry out a tax reform if he wins the elections. He said that this is not necessary because macroeconomic stability would be maintained throughout the year. He said the forecast is for 4.5% growth in 2012.
Article 36 of the bill establishes that the fiscal pact means that in no more than three years a process seeking to reduce fiscal evasion, increase quality, efficiency and transparency of public spending, increase efficiency, transparency and equity of the tax structure, consolidate in the Tax Code the regimes for incentives and rationalize the tariff schemes in provision of services will be incorporated.
More... (http://www.dr1.com/index.html#4)
For years the Fernandez government has resisted applying austerity measures, and government perks and fancy government offices need to be paid for by the taxpayer.
The president of the Senate Hacienda Commission, Tommy Galan said that this time the tax reform is a petition by the National Business Council and is contemplated in the bill that creates the Fundamental Law for the National Development Strategy. "At no time has the government or Congress considered carrying out a reform. This is a proposal from Conep on the grounds that the country cannot continue make reforms to place patches, but that it has to rectify situations of the domestic economy," he said, as reported in El Dia. He said that what they are considering is a comprehensive reform of all the Dominican tax system.
The Senator for Azua, Rafael Calderon denied that PLD candidate Danilo Medina will carry out a tax reform if he wins the elections. He said that this is not necessary because macroeconomic stability would be maintained throughout the year. He said the forecast is for 4.5% growth in 2012.
Article 36 of the bill establishes that the fiscal pact means that in no more than three years a process seeking to reduce fiscal evasion, increase quality, efficiency and transparency of public spending, increase efficiency, transparency and equity of the tax structure, consolidate in the Tax Code the regimes for incentives and rationalize the tariff schemes in provision of services will be incorporated.
More... (http://www.dr1.com/index.html#4)