President Hipólito Mejía agreed to reduce the advance payment on taxes on sales to 1.5%, down from a proposed 2%. He also would agree to cut the proposed tax increases on vehicle sales, cigarettes and alcoholic beverages. Mejía made the announcement to the press shortly before leaving for Mexico yesterday to attend the inauguration of the new Mexican President, Vicente Fox. Intense negotiations are presently underway in the Congress regarding economic reforms and tax bills.
