After the government deposited in the Chamber of Deputies the bill for a tax reform, he World Bank He said that the region’s tax system is complex and must be simplified, including the one that exists in Dominican Republic.
The head of that institution for Latin America and the Caribbean, William F. Maloneysaid during the presentation of the economic report “Wealth taxes for equity and growth” published this Wednesday that a fiscal balance is urgently needed.
In the report presented this Wednesday, the World Bank studies wealth taxes as an alternative to generate fiscal space, equalize income and stimulate growth.
“It would be very nice if we could lower the burden of taxes that are on the productive sector and shift these taxes on wealth,” Maloney said.
Latin America and the Caribbean currently have some of the highest corporate taxes globally, averaging 24.7%, above the OECD average of 23.9% and Asia’s average of 19%. %.
However, the region raises only 2.7% of its revenue through wealth taxes, compared to 12.8% in North America and 4.3% in Western and Central Europe.
