NewsWhore
01-17-2012, 03:00 PM
The Minister of Hacienda, Daniel Toribio, says that there is not going to be any sort of tax reform in the near future, as the Central Bank's intervention has controlled the recent exchange rate increase. Toribio said that Central Bank Governor Hector Valdez Albizu and his team have the currency exchange situation under control, as reported in El Nuevo Diario. The newspaper reported on the El Dia program transmitted by Telesistema, where Toribio emphasized that the government has instituted a series of prudent measures to ensure stability.
When asked about the tax reform, he said: "Don't be silly, this is not going to happen during an election process, but if I was in opposition it would be convenient." The presidential election is set for 20 May 2012. There is speculation, the government and its majority in Congress, will pass tax reform increasing the tax burden after the election.
Toribio also talked about how the National Development Strategy (END) recently passed by Congress sets out the need for an integral tax reform but recommends that this type of tax reform be done after the election period.
Toribio also said that the government team and the IMF would also be holding discussions on the seventh and eighth reviews of the 2009 Stand-by Arrangement. These talks were stalled when the IMF insisted on an 18% increase in the electricity rates, and Valdez Albizu rejected the motion out of hand, requesting instead a six-month extension to the agreement.
More... (http://www.dr1.com/index.html#2)
When asked about the tax reform, he said: "Don't be silly, this is not going to happen during an election process, but if I was in opposition it would be convenient." The presidential election is set for 20 May 2012. There is speculation, the government and its majority in Congress, will pass tax reform increasing the tax burden after the election.
Toribio also talked about how the National Development Strategy (END) recently passed by Congress sets out the need for an integral tax reform but recommends that this type of tax reform be done after the election period.
Toribio also said that the government team and the IMF would also be holding discussions on the seventh and eighth reviews of the 2009 Stand-by Arrangement. These talks were stalled when the IMF insisted on an 18% increase in the electricity rates, and Valdez Albizu rejected the motion out of hand, requesting instead a six-month extension to the agreement.
More... (http://www.dr1.com/index.html#2)