NewsWhore
06-28-2012, 05:10 PM
"The business sector will not back another tax patch," but they agree with President-elect Danilo Medina that the time has come for the grand pacts - taxes, education and the electricity sector - as the key elements for breaking the inertia and moving forward.
"Today we extend the friendly hand of the business sector to the government-elect, so that together we can break the inertia and we, including us also, do what has never been done in order to create a more prosperous Dominican Republic, as clamored for by the Dominican people." The suggestion was made yesterday, Wednesday 27 June by National Business Council (CONEP) president Manuel Diez Cabral, who referred to the fact that the last complete tax reform in the country was in 1992 and that since then nine tax patches have been carried out to generate more revenues for the government.
Diez Cabral, in an address to the American Chamber of Commerce, said that most of these patches were to cover circumstantial money needs for the government and were not part of a national development plan. He suggested that the first point to be considered in the pact should be increasing the quality of public spending. He emphasized that productive and social spending should be prioritized. In addition, they should reach an agreement for a reduction that eliminates the duplication in the public administration, as well as fusing and consolidating agencies to bring some coherence to the public sector with the aim of having an austere state, since it is no longer possible to keep accumulating fiscal financial deficits taking on foreign debt.
More... (http://www.dr1.com/index.html#7)
"Today we extend the friendly hand of the business sector to the government-elect, so that together we can break the inertia and we, including us also, do what has never been done in order to create a more prosperous Dominican Republic, as clamored for by the Dominican people." The suggestion was made yesterday, Wednesday 27 June by National Business Council (CONEP) president Manuel Diez Cabral, who referred to the fact that the last complete tax reform in the country was in 1992 and that since then nine tax patches have been carried out to generate more revenues for the government.
Diez Cabral, in an address to the American Chamber of Commerce, said that most of these patches were to cover circumstantial money needs for the government and were not part of a national development plan. He suggested that the first point to be considered in the pact should be increasing the quality of public spending. He emphasized that productive and social spending should be prioritized. In addition, they should reach an agreement for a reduction that eliminates the duplication in the public administration, as well as fusing and consolidating agencies to bring some coherence to the public sector with the aim of having an austere state, since it is no longer possible to keep accumulating fiscal financial deficits taking on foreign debt.
More... (http://www.dr1.com/index.html#7)