The recent visit of the International Monetary Fund (IMF) has left some interesting questions, especially regarding proposed fiscal (tax) reforms. According to the Regional Center for Sustainable Economic Strategies (Crees in Spanish), the two reports issued by the IMF mission are not really clear on what they found in their look at the economic and monetary conditions of the Dominican Republic.
Crees says that far from offering any recommendations, the IMF mission left a series of questions regarding possible fiscal measures that needed to be addressed. Economist Miguel Collado, the executive vice-president of Crees, pointed out in an article that “it was quite necessary for a thorough fiscal reform [to be implemented in order to] raise fiscal income”…..but they did not give any recommendations on how to do this.
The Crees spokesperson pointed out that a previous note from the IMF said that “tax income is limited due to tax exemptions and a high threshold for applying income tax.” As a result, Collado asks which is it going to be given the impact more taxes will have on families and corporations throughout the country.
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Diario Libre
1 August 2024