Proposed Tax on Money Sent to DR

AlterEgo

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Jan 9, 2009
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First I've heard of this, a 0.05% tax on money sent to DR is being discussed.

http://almomento.net/florida-tildan...s-ultramar-firmaron-impuesto-a-remesas/206355

Google translate:

FLORIDA: The Contender branded traitors overseas deputies
By: THE DRAFTING Date:May 12, 2016In: Dominicans Abroad 2 Comments
MIAMI "We vilely betrayed both overseas deputies in Constituency No. 2 when supported, signed and proposed in the Chamber of Deputies the draft tax remittances and increased charges for consular services, all to be established a 'pork barrel "estimated between 200 and 250 million dollars per year," said the candidate for deputy here overseas Yunis Segura.

"Without informing us or prior consultation with their constituents, because they knew they would not agree with this betrayal -at least this deception evil intencionado- these two deputies, Levis Suriel Adelis Gomez and Jesus Olivares Ortega, whose affirm appear in the attached draft , http://www.camaradediputados.gov.do/masterlex/MLX/docs/2E/2/760B/760C.pdf secretly conspired to get the sweat from work every Dominican who came to break the back here , "he said .

The project imposes a 0.05% each consignment delivered to relatives in the Dominican Republic, among other charges.

"With this project there will be Dominicans abroad is exempt from giving their money to these avivatos who claim to be representatives of Dominicans but in practice they are not," said the candidate of the Christian Democratic Party Quisqueyano.

"I know what it is to take day collecting debris, clean houses or sell in markets to bring bread to my daughters, like many of my fellow countrymen here, to come these avivatos, who have not done anything like deputies want to take Dominicans good money from abroad and their families on the island, "he said.

He explained that as the project, which only needs to be re-election law, this money can be usable for any other purpose is broken.

He promised that as soon reaches the Congress will make every effort to repeal and oppose this proposal and any other abusive and leonine.

"These two traitors tested and aspiring to be re-elected to represent us, who do not have any idea yet of our needs, have used their companions on the ballot to be promoted, because wherever they go not stand the rejection and criticism," he said .

It is estimated that about 77% of the Creoles living in the United States, sent only in 2015, US $ 4,882.7 million in remittances, the third source of inward direct the Dominican economic torrent currencies, apart from tourism and exports.
 

Derfish

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Jan 7, 2016
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Is that supposed to be 5% or really just 5 hundredths of a per cent. Out of $100.00 the Government taking a nickel? Doesn't seem worth setting up the tax collecting aparatus
 

AlterEgo

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Jan 9, 2009
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Does this tax apply to tourist and expats? Wire transfers, Western Union?

If it passes - and there is nothing to say that it will - it would be for everyone. Maybe the only exceptions would be if it goes straight to a bank account, like xoom does.

There will be an uproar from Dominicans if they try to implement this.
 

the gorgon

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Sep 16, 2010
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If it passes - and there is nothing to say that it will - it would be for everyone. Maybe the only exceptions would be if it goes straight to a bank account, like xoom does.

There will be an uproar from Dominicans if they try to implement this.

uproar is putting it mildly. i would not want to be a politician going to Washington Heights. it could get ugly..
 
Jan 9, 2004
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Nobody's going to get hot and bothered over .05%.

It is clear the government is in search of new revenue streams and this may be yet another trial balloon to see how much pushback it gets (referred to as a trial balloon).

They tried this same/similar thing when an announcement was made eliminating the tax exemption on goods valued at less than the $200 threshold.

You may well be right that no one will get hot and bothered over .05%. The government is likely counting on that.

But based on the amount of estimated remittances sent to the DR, they are looking at a 15 million dollar supplement to government coffers each and every year......and they have no real collection costs....impose the tax and order the transfer agents like WU to remit payment directly to the government.

Kind of like the taxes imposed by the DR when a flight is purchased. Airlines collect the money and remit to the government.

A brilliant form of legal theft.


Respectfully,
Playacaribe2
 

Mauricio

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Nov 18, 2002
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It's not 0.05% and neither 5% but 0.5%.

The 250 Millon dollars they aim to get are including the raise in consular services, that's why it doesn't add up. The presented project states 0.5% tax on remesas.
 

VJS

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Sep 19, 2010
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The draft is dated 2013, smells more like some desperate candidate is trying to find any potential dirt on the competition before the elections.
 
Jan 9, 2004
10,897
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It's not 0.05% and neither 5% but 0.5%.

The 250 Millon dollars they aim to get are including the raise in consular services, that's why it doesn't add up. The presented project states 0.5% tax on remesas.

In that case, the government would likely receive 150 million per year based on current remittances.


Respectfully,
Playacaribe2
 

chic

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Nov 20, 2013
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In that case, the government would likely receive 150 million per year based on current remittances.


Respectfully,
Playacaribe2

and thats not peanuts....although it does add up ..i mean all that money is being spent at home in d.r. and is taxed...
 

Kipling333

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Jan 12, 2010
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Shades of Argentina which now takes a whopping amount of tax if money enters there in US dollars. I have become rather wary of taxes that may be placed on incoming money when it comes in the form of a legacy . If a person receives a legacy from a will in the DR it is taxed at the rate of 25% .. I am worried that they will apply this to legacies received from ,say, a family member in USA or even from a friend living abroad.
 

Criss Colon

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Jan 2, 2002
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yahoomail.com
It's not 0.05% and neither 5% but 0.5%.

The 250 Millon dollars they aim to get are including the raise in consular services, that's why it doesn't add up. The presented project states 0.5% tax on remesas.

"Not To Worry",..............................cause it will "NEVER HAPPEN"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC

"Vimenca",..."Caribe Tours" and the dozens of others, including the BANKS, will never allow it!!!!!
 

zoomzx11

Gold
Jan 21, 2006
8,367
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Another anti humanity idea to enrich the corrupt. It's the camels nose under the tent. Start out small to lessen uproar then after its passed it goes up and up.