Government has practically ready proposal for tax reform

DOMINICAN REPUBLIC - In Brief 18 Aug 2021 by Magdalena Lizardo
The Minister of Economy, Planning and Development, Miguel Ceara Hatton, announced that the Government's proposal on tax reform is practically ready. It is expected that President Abinader will announce in the next few days the start of the discussion process for said proposal.According to the minister, it will be a progressive tax reform that would affect the richest people. Among the measures contemplated in the proposal are: the extension of the value added tax (VAT) to currently exempt products and reduction of the rate, and the increase in taxes on wealth and patrimony. He said that the products of the basic consumption basket will be protected from the payment of VAT.

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