President Medina will present his proposal for a fiscal pact today
Business against increase in food, but fear tax pressure
Diario Libre
SD. President Danilo Medina will chair today in the Presidential Palace a meeting of the Economic and Social Council (CES) in which he will formally deliver the proposal of his administration for a pact or fiscal reform in which he has already announced that he will not tax foodstuffs or the free zones.
Nevertheless, the government has also, through the Ministry of Economy, Temistocles Montas, reported ahead of time that they will up the tax burden from 13% to 15% which, according to businessmen, represents income of RD$57 billion/
The meeting with the President will start at 11:00 in the morning at the Palace, according to the announcement by Montas.
It also transpired that the government will suggest to the CES to make the electricity rates more transparent and reduce the level of subsidized consumption to no more than 150 Kw/h and charge everyone the same rate above that level. This would be a faster adjustment towards the elimination of the subsidies.
Yesterday at noon, the chief executives of the CES met to plan everything relative to today's meeting. Among the business community there is a large amount of expectation regarding the meeting of the President with the CES, since they do not look kindly at having the tax burden increased, that they take away tax exemptions and that consumption is taxed, but they are in favor of the government reducing expenditures.
Coordination
The Industrial Association ( AIRD) said that the moment requires broad coordination between the government and society "both in order to deal with the present situation that we have as well as guiding the economy and social efforts towards a more positive horizon."
Ligia Bonetti, the AIRD president, said that the entity will study the proposal for a fiscal reform presented by the government, and she hopes that they have thought about an exhaustive revision of the way they spend money.
"The fiscal pact should contemplate a fiscal reform that should be complete, which should be oriented towards human development and sustainable productivity; it should include the participation of many and have social content, promote rationality and quality in the public spending," said Bonetti.
ONEC congratulates President
The National Organization of Commercial Enterprises (ONEC) congratulated President Medina for his position of not putting new taxes on food products. Antonio Ramos, the ONEC president, said that there are exemptions, such as those that apply to packages valued under US$200, which is a privilege that favors foreign companies and that do not produce or generate jobs and that should be eliminated in the proposal of tax reform because it is unfair competition for commerce.
Nevertheless, the government has also, through the Ministry of Economy, Temistocles Montas, reported ahead of time that they will up the tax burden from 13% to 15% which, according to businessmen, represents income of RD$57 billion/
The meeting with the President will start at 11:00 in the morning at the Palace, according to the announcement by Montas.
It also transpired that the government will suggest to the CES to make the electricity rates more transparent and reduce the level of subsidized consumption to no more than 150 Kw/h and charge everyone the same rate above that level. This would be a faster adjustment towards the elimination of the subsidies.
Yesterday at noon, the chief executives of the CES met to plan everything relative to today's meeting. Among the business community there is a large amount of expectation regarding the meeting of the President with the CES, since they do not look kindly at having the tax burden increased, that they take away tax exemptions and that consumption is taxed, but they are in favor of the government reducing expenditures.
Coordination
The Industrial Association ( AIRD) said that the moment requires broad coordination between the government and society "both in order to deal with the present situation that we have as well as guiding the economy and social efforts towards a more positive horizon."
Ligia Bonetti, the AIRD president, said that the entity will study the proposal for a fiscal reform presented by the government, and she hopes that they have thought about an exhaustive revision of the way they spend money.
"The fiscal pact should contemplate a fiscal reform that should be complete, which should be oriented towards human development and sustainable productivity; it should include the participation of many and have social content, promote rationality and quality in the public spending," said Bonetti.
ONEC congratulates President
The National Organization of Commercial Enterprises (ONEC) congratulated President Medina for his position of not putting new taxes on food products. Antonio Ramos, the ONEC president, said that there are exemptions, such as those that apply to packages valued under US$200, which is a privilege that favors foreign companies and that do not produce or generate jobs and that should be eliminated in the proposal of tax reform because it is unfair competition for commerce.
Diario Libre
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