Spanish
Santo Domingo.- The Dominican Consul General in New York City, Jesús “Chu” Vásquez, referred this Thursday to the proposal of a 3.5% tax on remittances sent from the United States to the Dominican Republic, expressing his concern about the possible economic impact that this measure would have on thousands of Dominican families.
Although he clarified that it is not up to him to define the state policy of the country, Vásquez acknowledged that the issue worries the Dominican community residing abroad.
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“As you know, I am the Dominican consul in the city of New York, therefore I am not the one who decides the policy of the Dominican State, that question would be good to ask the corresponding people. But I consider that the taxes imposed on Dominicans are worrying, and above all, the percentage charged to companies is worrying,” said the diplomat.
The United States House of Representatives has approved a tax proposal that contemplates applying a 3.5% tax on remittances sent to countries like the Dominican Republic.
Vásquez emphasized that the majority of remittances sent by Dominicans in New York are small amounts destined for the basic needs of their family members in the country.
“Most of the remittances sent by Dominicans in New York City are 100 or 50 dollars for their families, that must be taken into account. I think an effort should be made to see how these situations can be handled,” he concluded.
Remittances constitute one of the main sources of foreign currency for the Dominican economy, representing about 7% of the Gross Domestic Product (GDP), according to data from the Central Bank.
So far, the Dominican government has not issued an official position on the matter.
