NewsWhore
06-11-2007, 05:30 PM
The Fiscal Invoice Number (NCF in Spanish) is an easily applied mechanism that has generated over RD$6.5 billion additional pesos for the Dominican Treasury. It is so efficient that many tax payers have increased their payments, in some cases by as much as 150%. The bonanza has been a RD$450 million surplus over all estimates each month since January. Estimates for the January-May period were for RD$53.3 billion to enter the treasury. Thanks to the new NCF, a total of RD$6.7 billion has entered the till. According to Internal Revenue boss Juan Hernandez, the amount of information provided by the NCFs obliges businesses and traders to function transparently, considerably reducing the practice of double bookkeeping that was so popular in the Dominican Republic. For example, VAT evasion was estimated at 42.83% in 2003. It is estimated at 32.1% for 2006.
More... (http://www.dr1.com/index.html#1)
More... (http://www.dr1.com/index.html#1)