NewsWhore
07-26-2007, 02:20 PM
At an American Chamber of Commerce luncheon yesterday, Tax Department (DGII) head Juan Hernandez outlined the progress made by the department that is now 10 years old. He highlighted the fact that over this period, tax collections have increased by 67%, going from 6.29% of the country's GDP in 1997 to 11% at present. He attributed these advances to the professional staff at the department, who have made the most of new electronic technology. Progress will continue, according to Hernandez, and the DGII intends to educate future generations about the importance of paying taxes, with tax education to be incorporated into the high school curriculum shortly.
Hernandez spoke about the simplification of the tax system, with the recent passing of the Law of Collections Efficiency (Ley de Eficiencia Recaudatoria) that abolished 17 laws, including the tax on documents. Others are a reduction of 30% on real estate property transfers, 39% on the tax on vehicle transfers, 45% tax on company formation, and 45% on the tax on increasing company capital.
Hernandez also stressed that for the first time in Dominican tax history, the government's tax returns were worth RD$8.2 billion in 2006. So far this year, it has returned RD$4.1 billion.
Hernandez went on to focus on the success of efforts to retain taxes from credit and debit card sales, special provisions for the construction sector, and the new ruling for crosschecking invoices (NCF). He said that ITBIS tax evasion has dropped by 12%, and the target for 2008 is that tax evasion will decline to 28%.
He reported that tax collections in 2006 increased by RD$28 billion compared to 2005, an increase of 35%. In the first half of the year, tax collections are up by 30%, compared to the previous year, or an additional RD$8.4 billion.
He said that the next step would be to implement a program to control unregistered sales (off the books). He says that these sales put taxpayers who comply with the tax laws at an unfair disadvantage.
Hernandez also highlighted the fact that the DGII's positive performance has yielded RD$8.1 billion more than estimated for the first half of the year.
More... (http://www.dr1.com/index.html#2)
Hernandez spoke about the simplification of the tax system, with the recent passing of the Law of Collections Efficiency (Ley de Eficiencia Recaudatoria) that abolished 17 laws, including the tax on documents. Others are a reduction of 30% on real estate property transfers, 39% on the tax on vehicle transfers, 45% tax on company formation, and 45% on the tax on increasing company capital.
Hernandez also stressed that for the first time in Dominican tax history, the government's tax returns were worth RD$8.2 billion in 2006. So far this year, it has returned RD$4.1 billion.
Hernandez went on to focus on the success of efforts to retain taxes from credit and debit card sales, special provisions for the construction sector, and the new ruling for crosschecking invoices (NCF). He said that ITBIS tax evasion has dropped by 12%, and the target for 2008 is that tax evasion will decline to 28%.
He reported that tax collections in 2006 increased by RD$28 billion compared to 2005, an increase of 35%. In the first half of the year, tax collections are up by 30%, compared to the previous year, or an additional RD$8.4 billion.
He said that the next step would be to implement a program to control unregistered sales (off the books). He says that these sales put taxpayers who comply with the tax laws at an unfair disadvantage.
Hernandez also highlighted the fact that the DGII's positive performance has yielded RD$8.1 billion more than estimated for the first half of the year.
More... (http://www.dr1.com/index.html#2)