Known for their proactivity, the Santiago business community has issued a list of recommendations to the Medina administration. President Danilo Medina is scheduled to speak to the nation this 17 March 2020, after keeping silent on the coronavirus throughout its development.
The business people represent the Association of Industries of the Northern Region, the Santiago Chamber of Commerce and Production, the Association for the Development of Santiago (APEDI), the Santiago Free Zone Corporation, among others. Signing the letter are Fernando Capellán, Miguel Lama, Juan B. Ventura, Sandy Filpo, Juan Carlos Hernández and Luis José Bonilla.
The business people say they base their recommendations on what has been carried out and has worked in countries that have suffered the virus onset before us. The suggestions are for 60-day periods.
1) Remove the 0.15 percent charge on electronic transactions in the financial system to stimulate virtual transactions and reduce the flow of people to banks.
2) Limit company payments to the Social Security Treasury (TSS) only to the health component for a period of 60 to 90 days.
3) Declare a moratorium on the payment of tax advances.
4) Condone the payment of penalties for delays in the payment of the real estate tax (IPI), presentation of IR3, IR1 and IR 17 declarations, as well as for non-compliance with payment agreements established with the DGII attributable to the crisis
5) Establish mechanisms that allow the payment of ITBIS to be made on goods and services collected instead of those invoiced.
6) Extend the deadline for the application of the law on the revaluation of assets.
7) Condone the payment of interest on loans from Promipyme and Banca Solidaria.
8) Establish a grace period for payment of loan capital for SMEs and people with incomes less than RD$50,000 per month.
9) Instruct the Superintendency of Banks to make the required regulations more flexible to avoid deterioration of the credit rating of companies and liberal professionals who fail to pay their loan installments under these circumstances.
10) Temporarily release an important proportion of the legal reserve to stimulate the economy.
The Santiago business sector called for the opening of permanent talks between the government, the productive and social sectors and the economic teams of the political parties to face the crisis together and to ensure the country tackles the crisis in a successful way and emerges strengthened.
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El Nuevo Diario
18 March 2020