2003News

Tax on foreign exchange transactions?

One of the alternatives currently being studied to help
the government increase its revenues is a tax on foreign exchange transactions.
Senate president Jesus Vasquez (PRD-Maria Trinidad Sanchez) and Chamber of
Deputies leader Angel Pacheco (PRD-National District) met with President
Hipolito Mejia on the matter. President Mejia had urged his party legislators,
who form a majority in Congress, to pass the 5% tax on exports. The tax is being
stringently rejected, however, by the business sector.