2005News

Leon Jimenes Group on tax reform

Leading business Leon Jimenes Group is planning to present an outline of what it understands should be an integral tax reform, aimed not only at filling a fiscal gap or at compensating resources for the elimination of the exchange rate commission, but also at contributing to a lasting re-structuring. Listin Diario reports that the group believes that the moment is ripe for a broadly based tax reform that would impact other areas of the economy in terms of macroeconomic stability, institutionalism and state consolidation. Jose Leon Asencio, the group’s president, and Rafael Menicucci, president of Cerveceria Nacional Dominicana, did not give specific details of their proposal but promised they will be made public next week. Their proposal includes the strengthening of the Dominican state, the increase of public spending in health and education, and efforts towards a national development program. Other aspects include public security, the strengthening of the judicial framework, the promotion of economic development and the solution of the energy problem. Leon Asencio stated that the DR-CAFTA agreement is “perfectly positive” since it has to do with a market that his business corporation has been exporting beer and cigars to and the agreement will increase trade. He explained the group is not afraid of competition as they have always been exposed to it.