Indirect taxes produce much more revenue than direct taxes. The most important indirect taxes are import duties (ranging from 0% to 25%), a value-added tax (20%), customs fees (0% to 25%), and consumption taxes (from 0% to 10%). Import licenses are not necessary, and exports have been liberalized. Direct taxation consists of a graduated personal income tax with a maximum rate of 35%, a corporate profits tax at a flat rate of 35%, and a tax on income from transferable capital.
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