Santo Domingo.- Andry José Ramírez, president of the Asociación Dominicana de Micros, Pequeñas y Medianas Empresas (Adomipyme), highlighted the importance that the elimination of the advance payment of taxes represents for his sector in the upcoming tax reform.
The business leader commented that the proposed tax reform project by the Executive Power only considers removing this advance payment from physical persons, a situation that would negatively affect the member companies of the association, which would have to bear any fiscal increase that this implies.
“We propose, just like the CONEP, that instead of a tax reform, a fiscal pact be established that involves the opinion of all sectors”, Ramirez said.
Ramirez warned that without the consideration of suppressing the advance payment of taxes in the tax reform, the Mipyme sector will not support the proposal.
In addition, he mentioned that companies are required to make an advance payment of taxes based on the previous year’s billing.
The Executive Board of the International Monetary Fund (IMF), after concluding the Article IV consultation, stated that it is crucial for the Dominican Republic to carry out an integral tax reform that sustainably increases state revenues through the elimination of tax exemptions, expansion of the taxable base, and improvement in the efficiency of spending, especially through the reduction of electricity subsidies and non-selective transfers.
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