Unnamed but reliable ?government sources? are quoted in today?s press as confirming that the tax proposals to be released formally on Monday will include; an increase to 12% in the ITBI (point-of-sale) tax, inclusion of heretofore exempt businesses (e.g., insurance) in the ITBI base, a reduction in the brackets of import duties, increases in taxes on tobacco, beer, and imported wines and spirits, a 1% charge on real estate transaction valued above RD$2 million, a 2% monthly tax to be paid by wholesalers, reduction of the hotel room tax, an elimination of the gasoline subsidy, and an elimination of the inheritance tax. The same sources revealed that the ITBI increases are expected to produce an additional DR$5.7 billion in government revenue annually. The full tax package was to have been revealed in a presidential address to the nation on Saturday night. However, the address has been postponed until Monday night so that Dominicans can enjoy the long Constitution Day weekend in ?tranquillity.?
