The author is a financial administrator and comptroller general of the Republic. Lives in Santo Domingo
“No matter how many mistakes you make, or how slow your progress, you will always be ahead of those who don’t even try.” Anthony Robbins
It is not difficult to understand and understand that a home, a business, a national or local government when its expenses and growth needs increase, to finance them, they require increasing their income or resorting to operational, financial or total debt or leverage.
In the case of a national or local government, income comes through taxes, donations, transfers or debt.
One way or another, increasing income means that you must pay the cost of increased prices or pay more interest.
This weighted average cost is equivalent to 3.6% of US GDP, the highest percentage since 1996.
In DR
Recently, the Dominican Government deposited the Fiscal Modernization Draft in the National Congress, with the purpose of increasing tax revenues by some RD$122,486.6 million, equivalent to 1.5% of GDP.
Preliminary project that was withdrawn from the National Congress, due to the high rejection it received from sectors of civil society, producers, merchants and the general public, spoiling the fiscal and spending plans of the Government for the next four years.
The next
The next proposed Fiscal Modernization Bill should lead to an increase in taxes on the richest Dominicans and companies, leaving aside those most in need.
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