Tax amnesty’s cost to Government coffers: RD$2.5B
Santo Domingo.- Internal Taxes (DGII) director Guarocuya Felix on Monday said the Government will lose out on around RD$2.5 billion when the tax amnesty takes effect.
During a visit to the Senate with Customs director Fernando Fernandez, the official said the tax amnesty will apply to all businesses and individuals who pay into the tax administration, and includes the surcharges, late penalties, interest and unpaid taxes during the period covered by the corresponding law until the last three years.
As to the amnesty’s tax percentage, Guarocuya said there was a yield of around RD$3.5 billion in the previous amnesty. “We estimate that regarding the tax amnesty we will fail to receive 2.5 billion pesos.”
“There are people who benefited from the amnesty and have continued to pay taxes regularly, therefore, the universe of people who have problems with the tax administration will be much lower,” he said.
Although the official projected needed tax revenue of RD$320.0 billion this year, the DGII has raised only RD$311.0 billion.
“Revenues have fallen relative to what the Finance Ministry originally projected, but you must remember that there were some important events during the year, such as the sale of some major companies.”
Source: Dominican Today
Category: DR News |