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20 cents of every peso paid in taxes goes on interest payments

The National Budget has allocated 20 cents of every peso in tax revenue to make interest payments on public debt, or around RD$87.17 billion. That is twice the sum allocated in 2007 (ten cents) and almost five times what was paid in 2000, when it was four cents.

Interest payments scheduled for 2015 on the internal and external debt are 23% more than what was estimated for 2014 and is 2.9% of GDP estimated for 2015.

“The capacity for the country to pay rests on the government’s potential for generating taxes and for 2015 the tax burden will have increased to a record 19.4%,” said Jose Luis de Ramon, of Deloitte Dominican Republic.

Source: DR1, Eldia

Category: DR News |

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Last updated October 22, 2016 at 2:00 PM
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