The Association of Hotels and Tourism of the Dominican Republic, ASONAHORES, indicated that at least 10 out of every 100 pesos of the government’s tax revenues are contributed by tourism industry, highlighting that in 2022 the taxes generated by tourism totaled more than RD$155 billion.
Inaugurated by Vice President, Raquel Peña and the Minister of Tourism, David Collado, together with the ASONAHORES business community, these statements came during the opening ceremony of the XXXVI Trade Show, the largest business platform between suppliers and companies in the tourism sector, taking place at BlueMall Puntacana until October 11.
David Llibre, president of ASONAHORES, explained that for every peso the State exonerates from taxes within tourism, the sector’s productive chain returns 12 pesos, interconnecting with the other sectors of the economy through the purchase of goods and services amounting to 139 billion pesos.
” ITBIS (VAT) is paid on all purchases of taxed goods and services made by the tourism industry. Therefore, we call for the current fiscal structure supporting the tourism sector to be improved, not eliminated, so we can continue attracting investments that allow the industry to increase and continue generating contributions for the treasury,” said Llibre.
He went on to say that the Dominican tourism industry attracts a significant amount of foreign direct investment, accounting for approximately 3 out of every 10 dollars generated in foreign currency by the Dominican economy and is therefore one of the main industries responsible for maintaining the exchange rate stability in our country.
ASONAHORES said that US$ 5,000 million in foreign investment is needed to increase the number of visitors to the country by two million, and this is only possible with the current legislation.
“We believe that the incentives granted by CONFOTUR should be aimed at projects that provide a minimum number of direct jobs per room, offer improvements in the working conditions of direct collaborators, rely on the use of renewable energy, have plans to upcycle water for irrigation and for solid waste recovery, make investments for the renovation of their facilities in the long term and have a commitment to social responsibility with their community,” Llibre said.
XXXVI Trade Show acknowledges the productive chain of tourism
Aguie Lendor, executive vice president of ASONAHORES, said that this Trade Show is aimed at promoting the development of the productive chain and strengthening commercial relations, and promoting sustainable growth in the tourism sector and benefiting all actors involved in the tourism industry.
The ASONAHORES Trade Show is supported by the Ministry of Tourism; Punta Cana – Macao Energy Consortium, CEPM; Banco Popular Dominicano; INTESOL CORPORATION; Banreservas; INDUBAN; Claro Dominicana; Therrestra; Novotecnic Dominicana; Banco BHD; QMS, Services, Guarantee and Quality; Blue Planet; Banco López de Haro; Constructora del País, CODELPA; Dominican Wood Importer, IMDOMACA; Finishes and Paints, Sherwin-Williams Paints; Viega; Vertice; Aquasport; Reid & Company; Trucks; BM Cargo; NTD Ingredients; Oldach Trading; INTELCA; Induveca; Grupo Puntacana; Nestlé Dominicana; TCO Networks; Equimax; National Institute of Technical and Professional Training, INFOTEP; IMCA Dominicana; Bii Dominicana; Servex Dominicana; McCain Foods Limited; DMK Abogados; QA Legal.
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