The Chamber of Deputies and Congress commission analyzing the proposed fiscal changes has agreed on minor modifications to the Tax Reform bill, bowing to requests from certain sectors. The commission members decided that new taxes would not be levied on non-governmental organizations (NGOs), beauty parlors or film production.
In addition the commission agreed to a request from the Dominican Free Zones Association (Adozona) to reduce the tax on local market sales from 5% to 3.5%.
Informal businesses need only pay the RD$12,000 annual tax if they source materials for more than RD$50,000.
Congress is still reviewing taxation that the business sector fears will affect border region industries and make Dominican industry less competitive.
The president of the commission, Reinaldo Pared Perez (PLD-National District), said that any further changes would depend on opinions from the Treasury and the Department of Taxes (DGII).
Yesterday’s meeting (Wednesday 31 October) started at 4pm and went on until 11pm. Discussions are due to resume at 4pm today, Thursday 1 November with another session scheduled for Friday 2 November, depending on today’s outcome.
www.listindiario.com/la-republica/2012/11/1/253361/Congreso-hara-cambios-a-proyecto-de-reforma-fiscal