Former Central Bank governor Luis Toral has told reporters from Listin Diario that the government will have an additional RD$51 billion in the next fiscal year as a result of a combination of factors, such as savings on payments of the foreign debt and the increase in cash flow due to the tax reform legislation. Toral said that he felt that the tax proposals, as they now stand, are not compatible with the Dominican reality since such a tax reform would seriously harm the people’s economic situation. Toral is proposing a 10% flat tax on incomes of individuals and corporations as well as a 15-year tax moratorium for exporters. In his opinion such a tax package would assure an increase in businesses and jobs and increase workers’ purchasing power at the same time. The former Central Bank official spoke at a meeting of the Dominican-Canadian Chamber of Commerce. In his arguments, Toral said that the government is saving RD$31 billion in payments on capital and interest on the foreign debt next year, and has another RD$20 billion coming in from taxes and therefore, “these hard figures show that the government has the capacity to handle expenses next year without creating the 13% Ad-Valorum tax nor broadening the tax base for the VAT tax.”