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New plates for motor vehicle means RD$3.2B in revenue; starts August

Santo Domingo.-  Internal Taxes Agency director Guarocuya Felix on Tuesday said revenue from the new plates for motor vehicles contained in last year’s tax reform will total RD$3.2 billion.

He said the figure is around RD$1.8 billion more than last year.

Felix noted the tax this year is 1% of the vehicle’s value, paid according to the model year. “Those that will pay the most are the expensive vehicles, the impact will be less on those owned by the middle class. That is, taxes will be more balanced.”

The official stressed that the tax increase was necessary to “correct macroeconomic distortions and maintain stability the country enjoys today.”

Felix after a meeting with the Senate Finance Committee added that plates renewal will start August 1.

Source: Dominican Today

Category: DR News |

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Last updated December 8, 2016 at 12:39 AM
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