President Luis Abinader announced that the Executive Branch has no alternative proposal for tax reform. On Saturday, 19 October 2024, the President had announced he would pull the taxation bill he had presented. He said the government would instead focus on making necessary adjustments to meet its goals of reducing reliance on external debt and enhancing its ability to address social issues.
Speaking to the media during the La Semanal weekly press conference, Abinader reflected on the challenges of governing during economically difficult times, asserting that despite these challenges, his administration has managed to navigate successfully.
“In the last four years, we’ve faced very tough situations, including nearly two years of the pandemic that saw a roughly 35% drop in revenues while expenses rose over 20%. We emerged from the pandemic in good shape, with a positive economic response. Today, the public non-financial sector’s debt is 3% lower than when we took office. We will make necessary adjustments, but we have no other proposals,” he stated.
On Saturday, 19 October 2024, Abinader had told the nation he was calling for the “immediate withdrawal” of the so-called Fiscal Modernization Bill after it failed to gain support from society and various economic sectors. This decision came in response to several days of protests and noise demonstrations outside the National Congress opposing the Executive’s proposal.
Hundreds of organizations presented alternate proposals for the tax proposal
During the same press conference on Monday, 21 October, the President announced that on Sunday, 27 October 2024, he would visit the National Congress for the enactment of the 2024 Constitution, including the amendments that had recently passed by the National Constitutional Revisory Assembly.
He also spoke with pride that the Dominican Republic is only second to Chile in the freedom of press ranking of the Inter American Press Association (IAPA).
Previous to the announcement by President Luis Abinader that he would remove the tax bill, thousands of organizations had presented alternatives and reasons why the proposals were not the best for the country. Now dozens of organizations have come forth with proposals and offers to organize the studying of the proposals for the drafting of a fiscal reform bill.
The National Strategy Law establishes that the government participate in a National Fiscal Pact with the Social Economic Council (CES).
Read more in Spanish:
La Semanal 21 October 2024 Minute 23
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22 October 2024