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Dominican Republic Slashes Deficit

by Mike Godfrey, Tax-News.com, Washington

18 March 2014


The International Monetary Fund (IMF) has recommended that the Dominican Republic broaden its tax base and cut back tax exemptions.

An IMF team visited the territory during March 4-14, 2014, to conduct discussions under an Article IV consultation and second post-program monitoring. Team leader Przemek Gajdeczka welcomed the steps taken toward fiscal consolidation in 2013.

He noted that tax measures helped rein in the deficit to below three percent of gross domestic product, from 6.6 percent in 2012.

The IMF mission to the Dominican Republic met with senior central bank and government officials, representatives of the private sector, and union leaders. Overall, it assessed that economic developments in the territory were better in 2013 than anticipated.

TAGS: tax | International Monetary Fund (IMF) | Dominica | Dominican Republic | tax breaks | tax reform

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