The Association of Commercial Banks of the DR (ABA) has reacted with surprise at the inclusion of a tax on the interests on savings deposits applicable from 2009, which was included in the tax reform project. Clave Digital reports that according to the ABA, the tax, which is considered an advance towards the Income Tax, will actually be up to 25% and not 10% as reported by the press. The ABA recalled that the Director of the Tax Department, Juan Hernandez had stated recently that the government was not considering the inclusion of a tax on deposits in the tax reform. The ABA says that although the tax would not come into effect until 2009, its reference as an official decision sends worrying signals to the general public that saves for its future and to consolidate the basis for investment and economic growth of the nation. They claim this tax would distort the Dominican economy and pointed out some of the negative results it would produce.