NewsWhore
03-14-2007, 03:20 PM
The unhappy news that automobile insurance is up by 30% is the result of the changes brought about by the government's latest "tax correction". The change of the tax on insurance from VAT to Selective Consumer Tax has forced insurers to increase their premiums by this amount. One cause is that Selective Consumer Taxes cannot be deducted from the taxes. Another is the high rate of accident claims. Apparently, the local auto insurance industry has lost RD$800 million over recent years. However, according to Hoy, the implementation of Law 146-02 will provide a boost for insurers.
More... (http://www.dr1.com/index.html#10)
More... (http://www.dr1.com/index.html#10)