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Exec: Dominican Republic losing up to $3B in investment potential due to taxation rules

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Exec: Dominican Republic losing up to $3B in investment potential due to taxation rules

MAPFRE BHD Companiade Seguros SA CEO Luis Gutiérrez said that the Dominican Republic islosing up to $3 billion in investment potential due to current terms of taxationfor insurance companies, Al Momento reportedMarch 30.

The executive called for changes to the tax system, which heblamed for the Dominican Republic's small life insurance market. He charged thatthe current 16% selective consumption tax, or ISC, hampers companies' ability toobtain an adequate return on such products.