2014 – Page 121

Former Minister of Public Works Victor Diaz Rua is campaigning for the presidential candidacy of former President Leonel Fernandez. News reports say that Diaz Rua told PLD members to not commit now to any candidate because the former President and president of the PLD would announce his formal intention at being elected presidential candidate of …

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The Dominican Republic national men’s basketball team plays Cuba today as it battles for the bronze medal in Centrobasket 2014. Puerto Rico yesterday got the best of the Dominican team, defeating the DR 7-73 in the semi-final round of the tournament. The bronze medal would give the DR a slot to play in the Toronto …

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Ministry of Hacienda (Finance), the DGII, and Customs Agency insist that the taxation of Internet purchases under US$200 will begin on 15 August 2014. These imports had been exempt from taxation as per Law 277-12. Customs director Fernando Fernandez has said the exemption now only applies to articles made in countries with which the DR …

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The president of the Partido Reformista Social Cristiano, Federico (Quique) Antun complained publicly yesterday that while the naturalization process is free for foreigners in the Dominican Republic, Dominican expats abroad have to pay upwards of US$500 at Dominican consulates to initiate the naturalization procedures for their children born abroad. He noted that the irony that …

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The Superintendent of Pension Funds (Sipen) Joaquin Jeronimo said that while the total in Dominican pension funds is now at RD$275.65 billion as of 30 June 2014, or 10.9% of the GDP, the yield on these savings has been declining. Jeronimo said the funds have been performed at nominal yield of 11.76%, but the real …

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The Dominican Republic Association of Industries (AIRD) has published a research study entitled, “Analysis of Intellectual Capital of Dominican Companies: the Importance of Ideas and Knowledge”. Among other things, the study recommends that the Tax Agency (DGII) recognize intangibles as company assets, as reported in El Nuevo Diario. The study was carried out by Victor …

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More than 100 members of the military and police have been sent to the Refidomsa fuel supply terminals in Haina, Azua, and San Pedro de Macoris due to the strike origanized by the Autonomous Drivers Transport Union for Petrol and Related Products (SACTPA) who are demanding a pay rise from their employers. This security measure …

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