2008 – Page 186

The Value Added Tax on fuels in the Dominican Republic is a progressive tax, meaning that as prices rise, the consumer pays more and more in tax money. During the first four months of the year, consumers paid 50% more compared to the same period last year, 2007. The VAT tax is different from a …

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The Senate has sent a bill proposing complete tax-free status for industrial free zone industries to its Permanent Commission on Industry and Commerce and Free Zones for further study. The bill, which was sent to Congress by President Fernandez, seeks to increase the competitiveness of Dominican free zone industries. It proposes 100% relief from income …

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As the Chamber of Accounts members came under hard questioning by a legislative commission, some rather serious situations came to light. According to El Nuevo Diario, the revelations could lead to the dismissal of members of the state auditing body. The crisis came to a head when seven of the auditors accused the chief magistrate …

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The United States State Department advisory on safety issues for tourists visiting the Dominican Republic has caused a predictable reaction from public and private quarters. From the head of the Tourism Police (Politur), to the chief justice of the Supreme Court, Dominicans have rejected most of what the State Department said as an “exaggeration” and …

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Millions of pesos were apparently taken from a safe in the house of the financial director of the Ministry of Public Health, according to the official himself. Contacted by investigative journalists Nuria Piera and Huchi Lora on their morning radio program, the official, Miguel Espinal, said that he did not know how much had been …

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The stories continue to roll in on the rising cost of all types of construction. Today’s Hoy reports that engineers and businessmen from the sector are requesting a meeting with the Minister of Industry and Commerce and the Superintendent of Banking. As construction is considered to be a major player in the Dominican economic process, …

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The French navy supply-type vessel “Francis Garnier” is in port at Santo Domingo on a courtesy visit. The ship, which is based in Martinique, makes regular visits to the islands of the Caribbean, and supplies needed relief assistance in times of disaster. The Garnier was built in 1971 as a military supply vessel, capable of …

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Ecuador has announced that beginning Friday, 20 June, any traveler from any country may visit without needing a visa. The new rules were laid out by the Ecuadorian Ministry of Foreign Relations, Trade and Integration. Eduardo Duran, the Ecuadorian Charge de Affaires in the Dominican Republic made the announcement here. According to the note, Ecuador …

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Expo Mango 2008 opens in Bani tomorrow. Growers, exporters and industrialists are joining together to celebrate the mango season, and this provides a rare opportunity to see and taste all the varieties of mango grown in the Dominican Republic. Visits to model mango farms are also on offer, and business opportunities or other possibilities could …

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The Dominican Republic and the Republic of South Korea are continuing to increase their commercial ties. According to Listin Diario, the trade balance for 2007 favored the Dominican Republic by US$6 million on US$126 million in trade. According to Kwon Sun-hung, the representative of the Korean Agency for the Promotion of Investment and Commerce (KOTRA), …

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