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Tax-free fuels ‘abhorrent,’ tax breaks for free zones

Santo Domingo.- Industry and Commerce minister José del Castillo on Tuesday called tax-free fuels and all laws which encourage subsidies ”abhorrent,” but defended the exceptions given to other sectors.

The official called for a discussion, prior to the signing of a fiscal pact, on the exemptions granted to the freight and passenger transport unions and companies that benefit from low taxes for fuels which exceed their needs.

He also cited other incentives such as for companies established along the border, which he affirms haven’t met the expectations for which they were allocated, with only a few have benefited. “In most cases they’re unfair competition against other companies established in the country.”

Del Castillo nonetheless defended other incentives, such as those for the free zones, which he says have led the operations of 640 companies in the country, providing 160,000 direct jobs and 60 percent of the country’s exports, worth US$5.5 billion annually.

Source: DT

June 28, 2016

Category: DR News |

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Last updated October 24, 2016 at 6:05 PM
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