2005News

Private business wants development plan

The president of the National Private Business Council (CONEP), Elena Viyella de Paliza, has informed that the national business sector is demanding the application of a development strategy that will allow the internal adjustments that the economy requires to reach reciprocity in the DR-CAFTA treaty with the US. The business sector is also suggesting the universal application of VAT (ITBIS) with a reduced rate for basic goods, as part of an integrated tax reform. Viyella said the treaty should be approved but with a prior integrated tax reform that would allow the business sector to take advantage of the opportunities it offers, and taking the steps that are necessary to allow equitable competitive standing for their producers. The same view is held by the Industry Association of the DR (AIRD), whose vice president, Julio Virgilio Brache, warned that the DR-CAFTA cannot come into effect without adopting measures that would guarantee equitable competitiveness.