2004 – Page 68

The Monetary Board authorized the issuance of RD$70 billion in Central Bank investment certificates. These certificates will be offered to financial institutions, institutional investors and the general public. According to the third, fourth, sixth and tenth resolutions of the last meeting of the board, the Central Bank has been authorized to receive deposits in local …

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The Director General of the Tax Department (DGII) has announced a renewed effort to catch those who avoid paying taxes, particularly the VAT (value-added tax) which is now 16% on 80% of all goods and services in the Dominican Republic. According to Hoy, the director general says that many establishments are charging the VAT but …

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The director of the Department of Taxes (DGII), Juan Hernandez highlighted yesterday, are reported in Hoy newspaper, the positive aspects for consumers of recently enacted tax reform. Hernandez pointed out that the new tax code offers breaks for the elderly and increased deductions for the salaried. Property taxes were eliminated for housing valued at less …

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The dollar was being sold yesterday for RD$31.25, while the purchase price reached RD$27.50. This is the lowest exchange rate since the weeks immediately after the collapse of Baninter and certainly the lowest peso price of a dollar in 2003 or 2004. Since 16 August, the dollar has fallen from RD$42.35 to RD$31.25, representing over …

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The Education Minister will formally bring charges against the former regional director of Education, based in Santiago, Deysi Diaz, for allegedly diverting thousands of school desks, teachers’ desks, filing cabinets, cupboards, and blackboards from the public schools. The scam is estimated to have bilked the system of RD$4 million. As reported in the La Informacion …

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More than 100 families bought apartments and houses from the National Housing Institute (INVI) during the last administration, but have not been able to occupy their properties because INVI employees had sold the same properties to several people. Others, who had paid their bills, appear in the computer as owing money because they were given …

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The District Attorney for the National District, Jose Manuel Hernandez Peguero, announced the arrest of one suspect in the attempted homicide of television and radio commentator Euri Cabral on Wednesday night. Hoy newspaper reports that the DA is not revealing the name of the person being questioned, but that he did say that the case …

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The alligator that was found in the river near Pedro Brand in the Province of Santo Domingo was delivered safely to the hands of the Ministry of Environment and taken to the National Zoo. The authorities did not have an easy time getting the amphibian from its captors. Ivelisse Figueroa, the director of the unit …

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Roll out the red carpet. The official arrival in the DR of gold-medal Olympian Felix Sanchez is expected at 12:30pm this Sunday, 3 October. He will be received by his father and a committee of sports figures including the Sports Minister Jay Payano and the president of the Dominican Olympic Committee, Luisin Mejia, as well …

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While some of our favorite teams might not be doing as well as hoped, there is certainly a flood of outstanding individual performances from the Dominican baseball contingent in the US Major Leagues. Forty-six-year-old Julio Franco is having a great year with the playoff-bound Atlanta Braves and is just three hits away from becoming the …

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