DR1 Daily News - Dominican Republic

The Presidency has placed its cards on the table regarding fiscal changes. This is the second tax proposal made by President Luis Abinader. A first in his previous term was rejected by public uproar.

During the La Semanal press conference on 7 October 2024, President Luis Abinader and Hacienda Minister Jose Manuel (Jochi) Vicente outlined the proposed Tax Modernization Law aimed at securing an additional RD$122 billion in funding for social spending, security transportation and other infrastructure projects. The first term of the Abinader government significantly increased current spending, mostly expenditures for staff, in detriment to capital spending.

The Abinader administration presented a National Budget for 2025 with RD$1.3 trillion in current spending, RD$298 billion for interest payments and RD$188 billion for capital spending.

The Abinader...