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Government: Tax approval is the only way to deal with emergency by Nate

November 1, 2017 by Staff News Writer

Addressing the reconstruction of the areas affected by Storm Nate seems a complicated task, mainly because of one element: the government has no money to deal with the situation.

The Presidential House believes the approval of new taxes is needed to be able to deal with the emergency consequences. This was stated on Tuesday afternoon by Deputy Minister of the Presidency in legislative matters, Luis Paulino Mora.

Going from the Sales tax to the Value Added Tax, which would tax goods and services and with a rate of 14% for the first two years is one of the proposals of the Executive, aiming to collect the money that allows them to provide what communities need.

In the next few days they will be presenting the text of the fiscal project in the Legislative Assembly. But in Congress there is no consensus to get VAT at 14%, since it had reached an agreement to keep it at 13%; however, negotiations will continue between the parties.

crhoy.com

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