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Looming tax hikes give Free Zones the jitters

Santo Domingo.- National Free Zones Council president Luisa Fernandez today said the sector’s acquired rights cannot be violated, in reference to the proposed tax package which levies 10% on dividends and 5% on gross sales in the local market.

She said that the proposal can be applied only after the period of the contracts is fulfilled, some of them as long as 20 years.

After a meeting of more than one hour with Presidency chief of staff Gustavo Montalvo, the business leader said the industry is concerned because they understand that paying more taxes can create havoc.

Nonetheless Fernandez noted that package isn’t a done deal, and in her view president Danilo Medina has only made a proposal to be discussed. “What has been done is a proposal, President Danilo Medina has said this, he said he won’t fail to recognize the rights we’ve acquired.”

Source: DT

Category: DR News |

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Last updated December 10, 2016 at 11:35 PM
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