DR collect $710.8 million in revenues from CO2 emissions issued by vehicles

• In 2018, collections for the tax on carbon dioxide (CO2) emissions amounted to RD $710.8Mn, an amount that represented a growth of 5.3% compared to the same period of the previous year, according to the records of the Directorate General of Internal Taxes (DGII).
• This is mainly due to the increase in the vehicle fleet in the country, but it also means that high consumption and high emission vehicles have been imported.
• The proceeds will be used to create a fund for mitigation and adaptation to climate change the purpose for which it was initially proposed.

(Source: Dominican Today)