2013News

After major tax overhaul, collections up 7.9% in 2013

The Department of Taxes (DGII) says that in the first six months of the year taxes were up 7.9% overall, compared to 2012. Taxpayers paid RD$10.42 billion more this year.

The DGII reports the collections include RD$4.16 billion for the fiscal amnesty, RD$8.6 billion for Law 253-12 (that increased taxation) and RD$2.5 billion for advance payments on the tax on financial assets of financial institutions.

Of the tax collections, 53.9% were paid by consumers, while 46.1% were income and property taxes.

The Department of Taxes reported that tax collections in June were 14% more than last year. The increase includes collections from increased taxes and new ones ordered by the November 2012 tax reform law. In absolute terms, the government received RD$2.66 billion more in June 2013 compared to June 2012. Total collections for the month were RD$21.67 billion.