The fiscal pact established in the END is further away than ever
Guarocuya believes there is no time to carry this out in this administration
Amílcar Nivar
SANTO DOMINGO. The fiscal pact, which had until last 25 January to begin, according to what was established in the National Development Strategy (END), doesn't have any possibility of beginning in the rest of the current term, according to what was expressed yesterday by the head of the Directorate General of Internal Taxes (DGI I), Guarocuya Felix, who said that he doesn't believe that there will be an opportunity in the current administration for carrying out this agreement.
Nevertheless, he said that this entity is carrying out the mandate of the Ministry of Hacienda by having, at least, a basic document that serves to generate the position of the government in dealing with a fiscal pact.
"This is to say we're going to prepare all the elements; we will put them on the table, but I'm not so sure that we have time enough for a fiscal pact. I have the impression that this will be a job for the next administration," said Feliz, after referring to the fact that this will have to be done during the first year of the next government.
The official offered his statements, after participating as the keynote speaker in the Breakfast of the National Association of Young Entrepreneurs (ANJE), where he dealt with the issue of "Towards the Construction of Public Policies for Business and Entrepreneurship Development," where economists José Manuel Vicente and Jacquelin Mora also took part.
During the activity, the new ANJE president, Biviana Riveiro, called on the universities, the political actors, and the governmental entities and society in general to contribute and join in the discussion. "The development of business initiative is closely tied to an institutional atmosphere generated by a good investment climate in the country".
In another order, regarding the possibility of eliminating banking secrecy, as Felix suggested, the financial analyst Alejandro Fernandez W. Said that the "banking secrecy is already limited in our country. It is not absolute as it used to be, for example, in Switzerland some years ago. Both the judicial as well as tax entities can, through the Superintendency of Banks, accede to the information of depositors in the banks if it is necessary. In addition I understand that all of this financial sector also has been prepared to comply with the international demands, such as the initiative FATCA by the United States and the demands of international correspondents regarding the risks of money laundering, and that this has been achieved according to the current financial legislation, without greater trauma to the sector or the depositories."
They could eliminate banking secrecy
The Director General of Internal Taxes, Guarocuya Feliz, warned yesterday that international commitments regarding transparency oblige the country to discuss the elimination of banking secrecy. "We have to sit down now to discuss the elimination of banking secrecy, because this is required by international commitments. It doesn't matter how many fiscal reforms we do, they will not produce results, because in the country the labor market is not functioning well, which is the support of the tax system," he said.
Nevertheless, he said that this entity is carrying out the mandate of the Ministry of Hacienda by having, at least, a basic document that serves to generate the position of the government in dealing with a fiscal pact.
"This is to say we're going to prepare all the elements; we will put them on the table, but I'm not so sure that we have time enough for a fiscal pact. I have the impression that this will be a job for the next administration," said Feliz, after referring to the fact that this will have to be done during the first year of the next government.
The official offered his statements, after participating as the keynote speaker in the Breakfast of the National Association of Young Entrepreneurs (ANJE), where he dealt with the issue of "Towards the Construction of Public Policies for Business and Entrepreneurship Development," where economists José Manuel Vicente and Jacquelin Mora also took part.
During the activity, the new ANJE president, Biviana Riveiro, called on the universities, the political actors, and the governmental entities and society in general to contribute and join in the discussion. "The development of business initiative is closely tied to an institutional atmosphere generated by a good investment climate in the country".
In another order, regarding the possibility of eliminating banking secrecy, as Felix suggested, the financial analyst Alejandro Fernandez W. Said that the "banking secrecy is already limited in our country. It is not absolute as it used to be, for example, in Switzerland some years ago. Both the judicial as well as tax entities can, through the Superintendency of Banks, accede to the information of depositors in the banks if it is necessary. In addition I understand that all of this financial sector also has been prepared to comply with the international demands, such as the initiative FATCA by the United States and the demands of international correspondents regarding the risks of money laundering, and that this has been achieved according to the current financial legislation, without greater trauma to the sector or the depositories."
They could eliminate banking secrecy
The Director General of Internal Taxes, Guarocuya Feliz, warned yesterday that international commitments regarding transparency oblige the country to discuss the elimination of banking secrecy. "We have to sit down now to discuss the elimination of banking secrecy, because this is required by international commitments. It doesn't matter how many fiscal reforms we do, they will not produce results, because in the country the labor market is not functioning well, which is the support of the tax system," he said.
Amílcar Nivar
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