The Abinader administration has presented its Bill for Fiscal Modernization. Many of those who understand what the term “fiscal” means also understand that this is just a euphemism for tax increases. In this case, across the board.
The groundswell of negative reactions began even before the proposal was released, as the information that was leaked alarmed many business sectors. Nearly a week previous to the introduction of the new proposals in Congress, the rum manufacturers were complaining about reduced sales, movie-makers were alarmed, and the tourism sector began to brace itself for the shocks.
Small business associations advocate that the modernization of the fiscal code should instead incorporate measures to simplify taxes to encourage more businesses to legalize their status. Most businesses in the Dominican Republic are in the informal sector and many attribute...
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