Tax collections up

[NewsWhore]

Between January and December 2007 the Tax Department (DGII) collected RD$141.4 billion, RD$30 billion more than in 2006, for a 27.1% increase. The amount was RD$12.2 billion more than was projected for that period. A report released by DGII explains that the increase was due to a rise in the volume of income taxes, vehicular taxes, taxes on consumption, real estate taxation and the application of numbered taxation invoices. Also, efficiency in tax administration by the DGII is credited with the increase in collection rates. Hoy writes that the RD$141.4 million included RD$2.7 billion in fiscal amnesty and excludes the RD$5.074 million payment by Verizon. According to the report, in 2007 there was a 66% increase in vehicular registration, for a total amount of RD$4.4 million. This was RD$1.6 billion more than projected. VAT (ITBIS) taxes increased by 21% with a collection of RD$35.4 billion, RD$6 billion more than in 2006. ISC collection also went up by 11%, increasing by RD$774.5 million, for a total collection of RD$7.7 billion. This is RD$1.3 billion more than expected. Cash collection was below what was estimated due to the unexpected decrease in beer sales. Real estate taxes equaled RD$3.77 billion, for a 69% increase in comparison to 2006. Taxes on non-salaried workers totaled RD$945 million, an increase of RD$190 million, equivalent to 22.6% increase and 9% surplus. Taxes on businesses totaled RD$21.6 billion for an increase of RD$4.4 billion. This was 26% more than in 2006.

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