The tax evasion It is an issue that worries the business sector, especially because the country has not managed to significantly increase its level of collection in relation to the Tax on Transfers of Industrialized Goods and Services (Itbis), for which currently only 34% is collected for each potential peso.
The president of the Association of Industries of the Dominican Republic (AIRD), Julio Virgilio Brache, in statements to Free Diaryrecognized, on behalf of his sector, the need to improve collections of the Itbiswhile considering it crucial in a strategy of tax efficiency of the country.
“He Itbiswhich will soon be known as VAT, is one of the main sources of collection. There is a study that indicates that, of each peso, the government only collects 34 cents of the Itbis“said Brache, showing concern about the high levels of tax evasion.
The businessman considered that the authorities should establish as a goal to raise the collection of that tax to 50 cents per peso, which would align the country with the regional average in terms of efficiency in the collection.
According to their estimates, an increase in collection of this tax would be equivalent to the 122,000 million pesos annually that the Government I was trying to obtain with the recently withdrawn tax reform.
Before the tax challenges current, Brache emphasized the importance of continuing to work on improving the tax revenue and in strengthening the economy, to prevent the country from being left behind.
He also referred to the economic growth of the country, pointing out that the foreign investment direct has exceeded 4,000 million dollars, which puts the economy on a good path towards what is projected for 2025.
He stressed that, after the withdrawal of the tax proposalyou have to work. “The country cannot stay behind, it must continue moving forward to meet its objectives,” he said.
