Market Report, "Tobacco in Dominican Republic", Published
The newly elected president Danilo Medina announced his on-going efforts to implement a new fiscal plan that would translate in a tax rate increase across multiple sectors, effective 1 January 2013. Local tobacco producers raised their concerns with officials that an increase in tax rates would imply a significant hit in the levels of consumption, resulting in the loss of jobs for many farmers who depend on the work in the tobacco fields; a situation that occurred when tax rates...
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