from DR1 news

Conchman

Silver
Jul 3, 2002
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www.oceanworld.net
New duty free imports under DR-CAFTA for 2015

Minister of Interior and Commerce Jose del Castillo Savinon says that the last phase of imports from the United States and Central America undergoing tariff elimination will be implemented in 2015, but this will be minor. The fiscal sacrifice is estimated at RD$200 to RD$300 million. The tax reduction will be of a final 3.2% as set out in the DR-CAFTA free trade agreement. He expects the losses in tax revenue to be compensated by an increase in consumption of goods, which means increased sales tax revenue. Del Castillo says that 88% of goods imported from the US and Central America are already at the zero tax level. Nevertheless, he pointed out that 2016 sees the start of a major phase-out of taxes on farm products, such as rice and garlic that will end in 2020 and 2025.

Shouldn't this be in the clown bin, instead of DR1 news?

Has this guy ever tried importing anything from the US himself, to see how the implementation actually functions?
 

zoomzx11

Gold
Jan 21, 2006
8,367
842
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The DR is not going to let a little thing like a international free trade agreement turn off the cash flow.
 

manny20

New member
Oct 2, 2012
189
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That's the same guy Del Castillo that said to the people that were complaining about chicken prices ,to go eat salami with platanos then!
 

CristoRey

Welcome To Wonderland
Apr 1, 2014
11,717
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According to the DR1 News, items like milk, coffee, oil, sugar, chocolate, that paid 8% in 2014 will now be taxed at 16%.
So we will double the tax we paid on these items in 2014?
"He (Castillo) expects the losses in tax revenue to be compensated by an increase in consumption of goods, which means increased sales tax revenue"

Indeed it does.
 

MikeFisher

The Fisherman/Weather Mod
Feb 28, 2006
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www.mikefisher.fun
you guys need to differ between Taxes and Import Taxes.
de Castillo does nowhere state that items will be TaxFree/Untaxed, he just shows which stuff does not get taxed with Import Taxes. of course we still pay taxes on all products, name me a country where you get all that stuff free and the politicians stay still rich and the roads paved ...

Mike
 

monfongo

Bronze
Feb 10, 2005
1,203
145
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aren't the importers Dominican company's (la sirena) ? which means they don't pay import tax and then they screw you at the cash register
 

MikeFisher

The Fisherman/Weather Mod
Feb 28, 2006
13,766
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aren't the importers Dominican company's (la sirena) ? which means they don't pay import tax and then they screw you at the cash register

i would await that for most countries the mayority of Importers of the goodies offered at the local supermarkets worldwide, are Local Importers/from that country, hence here in the DR the mayority will of course be Dominican companies. and they all make their profit with the items they sell you in their supermarkets, all around the world.
whats your point?

Mike
 

chic

Silver
Nov 20, 2013
4,305
1
0
I have always thought of sending a small container of u.s. goods to d.r. now.in..dr/cafta time frame.. things made in us for sale in dr but u still pay alot...trucking,,,shipping in us...shipping $ taking off the boat.. storage broker import fees...warehouse fees inspection fees trucking then where do u put 10k boxes of products? sell them? distribute them? get paid ?
im thinking send 8 boxes of products to myself...still tax free...delivered to my place...could probably sell them all to one store...well ive done some exporting /importing before ...and all i know is bring more money than you thought with you...
 

Cdn_Gringo

Gold
Apr 29, 2014
8,671
1,133
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Chic,

Individuals generally cannot take advantage of most free trade provisions as they exist for and apply to businesses. An individual may be able to benefit from zero duty on small purchases of items from abroad intended for personal consumption but would not be permitted to import say 50,000 pairs of Nike shoes for resale unless they are operating as a retail business in the country of importation.

As soon as the items being imported are intended for resale, then a whole whack of related licenses, paperwork and permits would be required. There is nothing stopping you from starting an import business but that's a lot of work and expense for 8 boxes at a time...
 

oldschool

Active member
Oct 9, 2004
536
22
38
I have always thought of sending a small container of u.s. goods to d.r. now.in..dr/cafta time frame.. things made in us for sale in dr but u still pay alot...trucking,,,shipping in us...shipping $ taking off the boat.. storage broker import fees...warehouse fees inspection fees trucking then where do u put 10k boxes of products? sell them? distribute them? get paid ?
im thinking send 8 boxes of products to myself...still tax free...delivered to my place...could probably sell them all to one store...well ive done some exporting /importing before ...and all i know is bring more money than you thought with you...

Dude the only way to make money with an importing/exporting business in this country is with yayo.
 

MikeFisher

The Fisherman/Weather Mod
Feb 28, 2006
13,766
2,195
113
Punta Cana/DR
www.mikefisher.fun
I have always thought of sending a small container of u.s. goods to d.r. now.in..dr/cafta time frame.. things made in us for sale in dr but u still pay alot...trucking,,,shipping in us...shipping $ taking off the boat.. storage broker import fees...warehouse fees inspection fees trucking then where do u put 10k boxes of products? sell them? distribute them? get paid ?
im thinking send 8 boxes of products to myself...still tax free...delivered to my place...could probably sell them all to one store...well ive done some exporting /importing before ...and all i know is bring more money than you thought with you...

doesn't sound like much import/export biz been done before.

Mike