In Punta Cana, the Government announced that the tax reform project is being sent to the National Congress at 4 pm. This reform aims to ensure social protection, support public investment, and focus on crucial expenses.
Finance Minister José Manuel Vicente stated that the tax reform aims to create fair and understandable rules for all. It also intends to simplify the tax process.
Vicente elaborated that the proposed tax reform could generate RD$110,418 million per year. These funds would be used in vital areas: RD$13,043 million for security, RD$10,870 million for health care, RD$35,272 million for transportation, RD$11,000 million for local governments, RD$22,233 million for the Central Bank and RD$18,000 million for electricity.
According to the minister, this reform aims to meet the people’s fundamental needs. It addresses the issue that current public spending is inadequate. The Non-Financial Public Sector (SPNF) debt is projected to be 45.1% of GDP in 2023, he revealed.