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SANTO DOMINGO. - The Customs Agency today signed another agreement through which 28 medium companies included under the Proindustria Law 392-07 agree to "voluntarily yield" and pay the Industrialized Goods and Services Transference Tax (ITBIS) in advance until December 2011.
Customs chief Rafael Camilo said with the new agreement and the another signed with 35 companies, of which five were excluded because they didn’t pay ITBIS for being pharmaceuticals or food producers, the Government seeks to obtain RD$1.3 billion by yearend and RD$3.7 billion next year.
Camilo spoke with business leaders after meeting on Friday with the industrial sector, to agree on the measure aimed at complying with the fiscal goal set in the Dominican Government’s Standby Agreement with the International Monetary Fund.
The pact’s 58 signatory companies represent more than 80% of the Proindustria Law’s benefits, although the small companies which qualify for the legal framework will not pay ITBIS via Customs, to prevent undercapitalization.
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As I said before, these monies are being paid in advance to fool the IMF into thinking that we have a balanced budget. When these taxes are due in the future, since they have already been paid, where does the gov't. go to look for this money. Do they raise our already our already outrageously high taxes even higher, or do the eliminate some of the pitiful few services that they are providing?
Morons,
Borrow from Peter to pay Paul.
Another corrupt shell game. These are not even politicians, they are organized crime.