Industrialists warn that “this is not the time for a hasty tax reform”

The Association of Industries of the Dominican Republic (AIRD) warned that a hasty tax reform would put a brake and constitute an obstacle to economic recovery.

“This is not the time for a hasty tax reform, which would put a brake and constitute an obstacle to said recovery, especially when high commodity prices and extraordinary increases in ocean freight are external factors that companies have momentarily assimilated, but that at a certain moment could translate – together with a short-term tax reform scheme – into an inflationary pressure that is difficult to overcome, ”the business organization warned through a statement.

AIRD indicates that it is aware that the country’s tax system requires updating. But understand that It is necessary to put an end to short-termism in fiscal matters and embrace the mandate of the National Development Strategy Law, which indicates that the Economic and Social Council is the space for discussion and the conclusion of pacts between the different economic and social forces that allow the adoption of policies that, by their nature, require a commitment from the State and the cooperation of the entire nation, such as the Fiscal Pact.

He adds that so far the policies applied by the Government have facilitated economic recovery, a high climate of confidence, stability, recovery of employment to pre-pandemic levels, with large investments underway. So that the indistrials understand that eIt is time to consider a course of action that may imply a setback.

“At this time we must be able to guarantee the reduction of the deficit in the electricity and fuel sectors, approve pending investments that will allow the State to collect higher revenues, firmly combat illicit, evasion and informality, and temporarily redirect government spending. towards improving services to citizens, so that medicine is not harsher than illness ”, the note indicates.

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The industrial sector reiterates that it will continue to participate in the constructive dialogue within the Economic and Social Council and in the definition of true State policies that go beyond short-term solutions.

 

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