NewsWhore
05-09-2007, 06:00 PM
Faced with billion peso decreases in certain income areas, relief in taxes could be coming. Taxes on tobacco and alcoholic beverages could drop. According to the Minister for Economy, Planning and Development (MEPD), Temistocles Montas, government officials and management from the tobacco and liquor industries are talking about ways to overcome the shortfall in tax collection that just for cigarettes is estimated to be close to RD$1.0 billion per year. In the first third of the year, the government received RD$200 million less than the same period for 2006, and most of the drop comes from the beer sales tax. In a TV interview with Cesar Medina, Montas confirmed that the warnings made by both the tobacco and beer companies have come to fruition. Apparently the government will ask the IMF for "permission" to reduce the taxes on these two high consumption items. When Montas was asked if he knew whether the Presidente Beer brewery would revoke their suspension of their biannual Latin music festival if the taxes were relaxed, the minister said that only the beer company could answer that question.
Presidente beer announced this year it would not hold the very popular Presidente Latin Music Festival because the 2007 tax increases had curtailed their sales significantly.
More... (http://www.dr1.com/index.html#6)
Presidente beer announced this year it would not hold the very popular Presidente Latin Music Festival because the 2007 tax increases had curtailed their sales significantly.
More... (http://www.dr1.com/index.html#6)