NewsWhore
01-25-2008, 03:00 PM
From 1992 until 2007 Dominicans paid a total of RD$125 billion in taxes on gasoline. Hoy writes that from 1992 onwards each government has justified these increases with the argument that fuel tax revenue would be used for the payment of services, interest and capital of the external debt. According to figures provided by the Ministry of Hacienda, Dominicans paid RD$14.7 billion in taxes on fuels between 1992 and 1996 and RD$16.6 billion between 1997 and 2000. The figures also indicate that between 2001 and 2004 increases were greater as Dominicans paid RD$27.5 billion in taxes. Although international oil prices continued on a steady rise, the DR experienced its largest boom in fuel taxes between 2005 and 2007, paying out RD$65.5 billion. At times, economists, monetary experts and spokesmen for business groups consider fuel taxes burdensome since they are passed on to consumers and are usually a contradictory practice at a time when oil prices are at record highs. Still government continues to increase fuel taxes as an easy way of getting more revenue. The DR consumes approximately 50 million barrels of petroleum per year, or 4.2 million barrels per month.
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