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Tax revenues down 5.6% this year

The drop in fuel prices and mining sector exports has led to a 5.6% decline in government tax revenue as of October 2015, the Tax Agency (DGII) reports. Fuel is heavily taxed in the Dominican Republic. Tax revenue, now at RD$270.46 billion is RD$16.6 billion lower than projections, while 2% more than last year.

As reported, from January to October 2015, were RD$1.74 billion less than last year.

For October 2015, tax collections reached RD$27.30 billion, up from RD$27.75 billion for the period in 2014, but down from the RD$33.42 billion estimated by the government.

Source: DR1, DGII

Nov 19, 2015

Category: DR News |

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