Tax collections up

[NewsWhore]

The Department of Taxes is reporting that its revenues are up 13% more than had been programmed. First quarter of the year tax collections reached RD$33 million, as a result of the significant tax increases levied at the start of the year. Last year, the department had collected RD$24.8 billion. The department had programmed RD$29 billion. Business sectors had alerted the government that it was underestimating the revenues the fiscal reform would produce and that such a high tax increase was not necessary. The surplus proves they were right. All categories of taxes increased, with the exception of the luxury tax on alcoholic beverages and cigarettes that kept to last year's level. The ITBIS tax was RD$9.13 billion, or RD$951 million more than what was programmed.

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