A Diario Libre headline today reads ?Discrepancies with IMF on fiscal business.? Journalist Raimundo Diaz reports that the ideas being tossed around nowadays are different from what the new authorities would want. Apparently the projected income stated in the agreement between the outgoing and incoming authorities is far below the goals of the tax reform. This discrepancy could be as much as RD$15 billion, according to Daniel Toribio, the former finance minister in the first Fernandez administration. The transitional teams have been debating a tax package that will compensate a loss of revenue from the transitional taxes (on exports and imports, among other things) as well as the projected losses that will originate with the inception of the US Free Trade Agreement in 2005. According to the PLD technicians, current projected income would range between RD$19 and RD$20 billion, while the IMF has estimated RD$35 billion. Newly-elected President Fernandez does not want to apply the VAT to more items, the topic of much debate. Last week, the CONEP business association, headed by Elena Viyella de Paliza, supported a ?universal? VAT proposal. According to former minister Toribio, ?the Dominican economy will not support more than that,? in reference to the proposals already on the table. <\/p>\n","protected":false},"excerpt":{"rendered":"
A Diario Libre headline today reads ?Discrepancies with IMF on fiscal business.? Journalist Raimundo Diaz reports that the ideas being tossed around nowadays are different from what the new authorities would want. Apparently the projected income stated in the agreement between the outgoing and incoming authorities is far below the goals of the tax reform. … <\/p>\n