Government rejects tax reform proposal suggested by the World Bank

The World Bank’s proposal for a tax reform in the Dominican Republic has been met with strong resistance from the Government, as they firmly rejected the suggestion, stating that it is not the right time to implement such measures.

The Minister of Finance, José Manuel -Jochi-Vicente, succinctly responded, “That they continue to insist,” when asked about the World Bank’s proposal, clearly expressing his emphatic rejection of the idea.

The World Bank’s report, submitted to the Ministry of Economy, suggested the implementation of a tax reform and the elimination of tax exemptions granted in the country to better utilize state resources. The report emphasized that eliminating tax breaks and broadening the tax base is essential for the government to ensure long-term sustainable economic growth.

Minister Vicente made these statements after meeting with the Finance Commission of the Chamber of Deputies to discuss the details of the reformulated budget that the Executive Power had recently sent to Congress.

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