For the authorities of the Ministry of Finance, the responsibility of processing the reforms to sales taxes and income taxes is in the hands of legislators.
We will not slack, but we would not be seeing this as one of our responsibilities, but rather as a responsibility of the Legislature,”
said Helio Fallas, Vice President and Minister of Finance.
Fallas believes the government has done everything it can to process the laws that turn the current sales tax into the Value Added Tax (VAT) and broadens the base of the income tax.
However, Fallas is hopeful and wants the bill to be approved in the first quarter of 2017.
The Treasury expects that the pre-election year will not affect the decision-making process in fiscal matters.