The Senate yesterday approved on second reading the Export Reactivation and Incentives bill, which now goes to the Chamber of Deputies to be accepted or rejected. The bill approved yesterday is a fusion between the original proposal submitted by the Executive Branch and a rival bill drafted by Senators of the opposition PRD. Among other things, the bill calls for the rebate of tariffs and import rights (such as quotas) on primary materials, intermediate goods, inputs, labels and packaging imported when those items are incorporated into goods exported from Dominican territory. On this point, the bill’s version yesterday includes an amendment suggested by the Executive Branch and sponsored by the PLD senators that specifies that the value of the drawbacks should not exceed that of the import taxes paid by the exporter for the inputs.
