2005News

Year of Recovery

President Leonel Fernandez has named 2005 as “Year of Recovery.” Decree 1-05 points out the recent measures that have lead to a climate of confidence and positive expectations for recovery. President Fernandez explains that the country needs the greatest of collective efforts in order to surpass the serious economic crisis and consolidate economic recovery.
2005News

Billing Shell

The government is asking Shell to pay RD$237 million in past due payments dating back to 1994. As reported in Hoy newspaper the dividends are due on Dominican Petroleum Refinery profits of RD$1 billion. The source says that the new government has asked the refinery to deliver the financial statements for 2002 and 2003 that …
2005News

Pay your ITBIS

The Department of Taxes (DGII) announced that tax collections in 2004 reached RD$60 billion, up from RD$40.9 billion in 2003. Juan Hernandez, director of the DGII, said that his greatest efforts in year 2005 will be directed to reduce evasion of the ITBIS, the 16% tax on sales. He said that in the first months …
2005News

Fraud at EdeSur

Ruben Bichara, administrator of EdeSur power distribution company said that they have detected and put an end to fraudulent operations of RD$800 million carried out by employees of the company, as reported in the Listin Diario. The employees had contacts with some 300 companies to which they granted power bill reductions of up to 90% …
2005News

More on Renove

The director of the Department for the Prevention of Corruption (Depreco), Octavio Lister denounced that directors of the Plan Renove reaped US$600,000 in fraudulent money against the governmental OMSA, in addition to delivering vehicles of less worth than those that had been requested and billed to the government, as reported in Hoy newspaper. He denounced …