IDB, IVA and exchange control

June 11, 2004

Rumors published yesterday in some newspapers claim the government is thinking in reducing the amount of the Value Added Tax (IVA) and eliminating the criminal tax on bank transactions (IDB). These would turn out to be brilliant electoral strategies on the part of the government as would be eliminating the corrupt exchange control. I doubt the government has the conviction to carry them through or the ability to execute them on time.

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