Dominican Rep: tax revenues above target

DOMINICAN REPUBLIC - In Brief 20 Mar 2013 by Pavel Isa

Good news from the revenues side: during the first two months of the year, tax revenues were above target. Authorities reported a 108% accomplishment. Revenues totaled DOP 46.7 bn, 26.1% more than the first two months of last year. That was clearly the result of the recently approved tax reform approved in November. However, this behavior also clears some doubts in regards to the impact of slugghish economic activity on revenues. However, the government has failed to release spending figures. Although we don't expect serious deviations from fiscal targets, business associations are already demanding immediate release of budget results.---

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