With this proposal, the Government aims to raise an additional RD$40 billion to RD$50 billion
SANTO DOMINGO - Following its approval this week in the National Congress, President Luis Abinader promulgated Law 30-26 on Thursday night, June 18, regarding measures to promote economic growth and mitigate the international crisis.
The information from the Presidency maintains that it pursues the promotion of sustainable development, general well-being and the strengthening of conditions that allow for the economic and social growth of the nation.
Similarly, it adds, it seeks to strengthen the responsible management of public resources and tax compliance based on the principles of equity, progressivity and ability to pay.
It is also emphasized that preserving fiscal and economic stability is essential to maintaining confidence in institutions and generating jobs.
It emphasizes that the measure arises in an international context marked by economic and financial uncertainty, so "it is necessary to adopt measures aimed at strengthening fiscal discipline, the sustainability of public finances and predictability in economic management, in order to strengthen the State's capacity to respond efficiently and promptly to the changes and challenges of the national and international economic environment."
Approved in Congress
After being approved by the Senate on Wednesday, the Chamber of Deputies approved it yesterday, Thursday, in its first reading. The bill, as stated by the government, aims to promote economic growth, simplify taxation, and mitigate the international crisis by increasing state revenue in response to pressures stemming from the global context.
Presented to the country
The set of measures was presented to the country on June 11 by Magin Díaz, Minister of Finance and Economy, with a projected collection of between RD$40 billion and RD$50 billion additional, equivalent to around 0.5% of the Gross Domestic Product.
“The government has no liquidity problem,” the official declared, detailing the actions, which are divided into four blocks:
-Pro-economic growth measures
-Tax simplification/facilitation measures
-Measures to combat non-compliance/evasion
-Tax System Update/Fiscal Consolidation
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