Ministry of Finance (Dominican Republic)
The Ministry of Finance of the Dominican Republic is responsible for the finances of the Dominican Republic.
The Ministry was established on 14 November 1844, nine months after the country attained independence. It was known originally as the Ministry of Finance and Trade. The first Minister was Ricardo Miura, who held office from 1844 to 1847. Ramón Matías Mella was the fourth Minister and served from 26 September 1849 to 8 April 1850.
The Ministry has gone through several name changes. In 1926, it changed to Secretary of State for Finance. Soon after, it was merged with the Ministry of Labor and Communications (on 28 January 1931). The name was amended to Ministry of Finance, Labor and Communications.
On 27 August 1931, the 1-28-1931 decree was rescinded and the Secretariat reverted to being the Ministry of Finance.
On 28 November 1934, the ministry became the Secretary of State for the Treasury.
On 28 February 1938, the Secretary became the Secretary of State for the Treasury and Commerce.
On 4 May 1945, the Secretary of State, Treasury and Commerce became the State Department of Treasury and Public Credit.
On 1 January 1955, the Secretariat again became the Ministry of Finance.
On 7 January 1957 it became the Secretariat of State for Finance and Banking.
On May 14, 1959 it was renamed Ministry of Finance.
In May, 1963, the Secretariats became Ministries.
In September, 1963 it again became Secretary of State for Finance.
During the War of April, 1965, the constitutional government established the Ministry of Finance, while the Government of National Reconstruction kept the name Secretary of State for Finance.
In 1965, the interim government restored the Ministry of Finance, until November 28, 1966, when a new constitution accepted the name Ministry of Finance.
On December 27, 2006 it was once again called Secretary of State for Finance.
The decentralised and autonomous institutions of the Ministry of Finance, are:
- Superintendency of Insurance
- Directory General of Customs (DGA)
- Directorate General of Internal Revenue (DGII)
- Reserve Bank of the Dominican Republic (BanReservas).
- Savings Fund for Workers and Monte de Piedad.
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