The Department of Taxes (DGII) has announced that wages exempt from taxes have been increased to RD$30,915 a month, taking inflation into account. As reported in Listin Diario, the number of people in formal employment as of 31 December 2010 was 1.3 million. Of these, 92.5% would be exempt from paying taxes on their wages. The measure came into effect on 1 January. This represents a RD$3,248.70 increase over last year’s exempt level that was RDR$29,111 a month or RD$349,326 for the 12 months of the year. The Central Bank estimated the year-end inflation at 6.2%.