Chamber of Deputies President, Alfredo Pacheco, said that VAT (ITBIS) would not be applied to cooking oil, coffee, sugar, molasses, cocoa or chocolate, according to Diario Libre. Also excluded would be agricultural raw materials, and capital goods, seed, soy, soy wheat, among other products. The Luxury Property tax will not be changed as proposed by the Executive Branch, nor will interest on savings be taxed starting 2009. The reform to be approved will be of RD$25 billion and the government must accept this, although it is not a result of consensus.
El Caribe adds that the Deputies will vote on the reform next Tuesday. “We are not going to approve the RD$31 billion the government wants”, stated Pacheco.