Former Vice President Jacinto Peynado, the most likely presidential candidate for the PRSC in the 2004 election, suggests that the government reduce the three main taxes to 10%. He proposes in an article in the Listin Diario today that the government reduce the ITBIS (sales tax) to 10% and apply it to all products, reduce income tax for companies and individuals to 10%, and reduce all import tariffs to 10%. He proposes to eliminate the 1.5% tax. He feels an action of this kind would restore confidence to business and spur consumption again, reactivating the stagnated economy.
