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Dominican Republic pushes for tax increases to offset surge in oil prices
The plan would tax large companies, airline tickets and gambling to raise $800 million a year, officials said.
- The Dominican government plans to raise or introduce new taxes to generate around $800 million annually to counteract higher oil prices linked to the Iran war.
- One proposal includes increasing the income tax by 30% for companies earning more than $17 million yearly for three years.
- Additional suggested taxes include a $10 rise in airline ticket prices and extra taxes on casinos, gambling, and electronic cigarettes.
- The government will exempt micro-enterprises and individuals earning less than $680 per month to protect the poorest, with Finance Minister Mag�n D�az emphasizing responsible decisions to protect vulnerable populations.
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Associated Press News+7 Reposted by 7 other sources
Dominican Republic pushes for tax increases to offset surge in oil prices
The Dominican government says it plans to increase or implement new taxes to generate some $800 million in additional revenue a year to offset a surge in oil prices blamed on the Iran war.
·New York, United States
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The Minister of Finance and Economy, Magín Díaz, said this Thursday that the country faces a complex economic situation due to the “greatest uncertainty in history” in international markets, especially in the oil sector, due to the effects of the war in Iran. After explaining the measures announced by the Government to face the impact of the international crisis and keep the Dominican economy stable, Díaz said that these are tax initiatives that…
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Total News Sources9
Leaning Left4Leaning Right0Center4Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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