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The Dominican Sun
"Daily Dominican Republic News in English Since 2004"
Friday, June 1st, 2012
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Montas announces tax reform to raise RD$140 billion
Story Text & Photos © 2012 by DR1 Jun 1 2012 14:59PM
DR1 - The Minister of Economy, Planning and Development Temistocles Montas revealed on Wednesday, 30 May, what most people just about knew was coming: a huge tax reform aimed at raising an extra RD$140 billion in 2013, nearly 40% of the budget, to service the government debt. Yes, the piper must be paid. Montas said this would be discussed between August and December. The increase in taxation would then be available for the 2013 National Budget. Montas said that part of the RD$140 billion would be used to fulfill the commitment made by President-elect Danilo Medina to assign 4% of the GDP to education. Coalicion para una Educacion Digna, the group that campaigned for the government to increase spending on education, has said if the government reduced wasteful spending, funds would be available for education without increasing taxes. Montas says, however, that the new taxes will pay for the increase. As quoted in El Nuevo Diario, Montas said that money alone would not raise the quality of education in the country. He also noted that an integrated tax reform would have the special feature of discussing the quality of government expenditure, what he called "a redesign of public spending. " Read original at DR1.


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(Posted 14:59 Friday by DRSol NewsHound. Viewed 95 times.)
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