DomRep cement duty
The Editor, Sir:
In reference to the article titled "A poor first quarter for Caribbean Cement", published Wednesday, May 12, 2010, which says that some cement recently sold to the Dominican Republic by Caribbean Cement Company was charged 30 per cent duty, we would like to clarify the following.
The Dominican Association of Cement Producers has the responsibility to shed light on all matters that might be of interest to the local cement industry, and to monitor the proper management of any commercial activity that may have some impact on cement-industry performance.
15 per cent tax
In that sense, we would like to stress that to date, any cement imported to the Dominican Republic has not been charged over the mandatory 15 per cent tax, as established by the CARICOM trade agreement.
However, a lower tax rate of 14 per cent is applied on all cement imports from any country in the Caribbean zone.
We appreciate your attention to this letter, which has the sole purpose of clarifying any misinformation in the light of your readers.
I am, etc.,