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SANTO DOMINGO. - The bicameral commission that drafted the bill to increase the health sector’s wages suggests levying a 0.25% tax on the interests on bank deposits to sustain it, and was assigned to the Senate Budget Commission yesterday.

It also suggests applying taxes on Central Bank investment certificates, betting parlors, lottery tickets, checks of any type paid by financial intermediary organizations and payments through wire transfers.

The funds collected from those taxes would reach RD$2.7 billion and would be applied in the following manner: 40% wage increase for doctors; 30% for deontologists, nurses, pharmacists, psychologists and biocatalysts, and 40% for retired doctors whose pension doesn’t exceed RD$30,000.

The bill will benefit health professionals who work in the Public Health Ministry, the Dominican Social Security Institute and the Dominican Dermatology Institute (IDD).

The bill stipulates that the increases will be applied according to criteria and conditions of adherence to schedules, efficiency in the services and incentives for distance, agreed between the Medical Association and the Public Health Ministry.

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COMMENTS
8 comment(s)
Written by: josean, 4 Feb 2009 8:38 AM
From: United States
In some country the mantra is politicians tax and spend. In DR the just tax and steal!
Written by: texasshoe, 4 Feb 2009 9:51 AM
From: United States, Richmond, Texas
What a shame. Like most LA countries the system of banking is under utilized by the general public as a whole and now they want to tax the people who are trying to save money.
Written by: baldoria23, 4 Feb 2009 10:46 AM
From: United States, Washington, D.C.
HOw about an increase in the tax on the profits made by bankers? I hear they've had a record year of profits.

Another note, reducing corruption and improving service delivery would go a long way to addressing the state capacity. Right now, an increase in taxes goes towards what? the increased salaries of Senators, or the CC judges? I don't want my money going to that end. Or paying for the myriad number of "botellas" that the political parties give out to their supporters. I'd be happy to pay for an efficient government!!!
Written by: ArsenioALembertJr, 4 Feb 2009 11:04 AM
From: United States, (on Sabbatical)
This is what they call a dis-incentive.
And to add insult to injury; If you borrow now you'll probably pay back more interest on the loan.
Burning the worker's candle at both ends.
Double jeopardy.
What they encourage is---Don't bank, don't borrow, wait on the almighty government and the now-it-alls to legislate reforms.
Written by: JD_Dominguez, 4 Feb 2009 11:15 AM
From: United States, Reality Check
Most Dominican banks lower interest rates (see link below) but now taxes are going up:

http://www.dominicantoday.com/dr/....inican-banks-lower-interest-rates

Thus, keeping deposits in the RD is very much less attractive so, lets continue to expect the RD$ pesos to depreciate! In the short term, 45:1 maybe a good short term target.

Written by: texasshoe, 4 Feb 2009 1:37 PM
From: United States, Richmond, Texas
JD,

The article is the lowering the interest rates on loans-Less interest less payment (in theory) however you seemed to have left out if the US Embassy had anything to do with it. LOL
Written by: OndeVert This user is banned, 4 Feb 2009 10:25 PM
From: United States
The banks will lower interest rate by 2% points. Now we have to pay 0.25%. F**K them. Take your money out of DR! We are not going to subsidize nor feed that stupid socialism and political robbers!
Written by: gouletcolonial This user is banned, 5 Feb 2009 7:41 AM
From: Cuba, it is a secret the censors are looking for me
No matter how much you cheat the government in taxes, you'll never get close to being even. Trust me.
(Tim Geithner, Treasury Secretary's proverb)
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