The DGII reported that revenues from the value-added tax in the Dominican Republic (ITBIS) fell below expectations. The tax was only 89% of budgeted collections for the first eight months of the year. Tax collections for January to August has been RD$63,271.95, that is 89% of the estimated RD$71,064.89 for the period. Nevertheless, the DGII says that overall tax collections at RD$262,499.58 million are 11.3% over budgeted. But inter-annual growth in the collections is only 1.3%, reports the DGII.
DGII says that taxation on mining earnings and company business tax increases compensated for the lull in the ITBIS tax. The decline in the value-added tax, nevertheless, could reflect the lull in the spending.
The director of the DGII is counting on internal improvements to increase tax collections. He announced a cooperation project with the Japan International Cooperation Agency (JICA) for improving procedures and internal processes within the DGII, training DGII personal and equipping local administrations and the main offices.
22 September 2017
