NewsWhore
06-06-2007, 03:10 PM
The recently announced tax break could amount to RD$1.95 billion by the end of 2008. According to the head of the Department of Taxes, Juan Hernandez, in 2007 tax payers will get a RD$250 million relief package, and for 2008, the estimate is estimated to reach RD$1.7 billion. These reductions come from the lowering of income taxes contained in the Fiscal Flexibility Law currently in Congress. The tax rate would fall from 29% to 25% and the ad-valorem tax would be reduced by 80% on cigarettes and by 50% on beer and alcoholic drinks.
The National Young Entrepreneurs Association (ANJE) had insisted the January 2007 tax reform that increased taxes was not necessary because the cross checks in the new Department of Taxes invoicing system would generate a windfall of revenues as has occurred. But ANJE is also pointing out that government spending in the first quarter of the year is up RD$4.7 billion (14.3%) compared to the same period the previous year.
More... (http://www.dr1.com/index.html#3)
The National Young Entrepreneurs Association (ANJE) had insisted the January 2007 tax reform that increased taxes was not necessary because the cross checks in the new Department of Taxes invoicing system would generate a windfall of revenues as has occurred. But ANJE is also pointing out that government spending in the first quarter of the year is up RD$4.7 billion (14.3%) compared to the same period the previous year.
More... (http://www.dr1.com/index.html#3)