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Impact of tax reform less than expected

Santo Domingo.– The impact of the tax reform in the Consumer Price Index (CPI) was lower than projected, according to an analysis of inflation conducted by the Dominican Republic’s Central Bank.

“The biggest effect on domestic prices, as a result of the tax reform, was verified in January, so we should expect a moderation in the growth of prices in the coming months,” said the financial institution.

Several supermarkets and large businesses delayed the implementation of the new Industrialized Goods and Services Transference Tax (ITBIS), which rose from 16% to 18% during the first month of the year.

According to the Central Bank, inflation in January was 1.26% compared to December 2012, and it is expected that this year it will be in the range of 5% + -1%.

Source: DT

Category: DR News |

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Last updated December 8, 2016 at 12:39 AM
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