{"id":29841,"date":"2011-06-27T01:43:56","date_gmt":"2011-06-27T01:43:56","guid":{"rendered":"http:\/\/dr1.com\/new\/pages\/tax-bill-is-law\/"},"modified":"2011-06-27T01:43:56","modified_gmt":"2011-06-27T01:43:56","slug":"tax-bill-is-law","status":"publish","type":"post","link":"https:\/\/dr1.com\/news\/2011\/06\/27\/tax-bill-is-law\/","title":{"rendered":"Tax bill is law"},"content":{"rendered":"<p> The Presidency has signed Law 139-11 that creates and raises taxes to compensate for the rising government fiscal deficit. The government expects to collect RD$9.6 billion in extra revenues. Income tax on companies was increased from 25% to 29%, formerly duty free industry local sales will pay 2.5%, and there are new and increased taxes on gambling. <\/p>\n<p> The government needed to demonstrate the added revenues in order to secure the approval of the International Monetary Fund for the fifth and sixth reviews of the Stand-by arrangement and obtain clearance for new sovereign bond issues on international markets and disbursements of funds from the IMF as part of the ongoing Stand-by arrangement. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Presidency has signed Law 139-11 that creates and raises taxes to compensate for the rising government fiscal deficit. The government expects to collect RD$9.6 billion in extra revenues. Income tax on companies was increased from 25% to 29%, formerly duty free industry local sales will pay 2.5%, and there are new and increased taxes &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/dr1.com\/news\/2011\/06\/27\/tax-bill-is-law\/\" class=\"more-link\">Read more\u2026<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[230,3],"tags":[],"_links":{"self":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/29841"}],"collection":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/comments?post=29841"}],"version-history":[{"count":0,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/29841\/revisions"}],"wp:attachment":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/media?parent=29841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/categories?post=29841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/tags?post=29841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}