Dominican Exports Promotion Law 84-99 provides for certain incentives, such as the reimbursement of taxes and customs duties paid by the exporters for raw materials, components, intermediate goods, labels, containers and packing material, if those are incorporated to export goods or returned abroad in the same condition that they entered the Territory. The Law also […]
The Inheritance Tax in the Dominican Republic applies to all assets located in the Dominican Republic, regardless of the last domicile of the decedent and of whether the succession is testamentary or intestate. If the deceased was a Dominican citizen or had its last domicile in the Dominican Republic, the inheritance tax also applies to […]
Dominican Border Zone Tax Incentives Law 12-21 covering the provinces located in the Dominican border: Pedernales, Independencia, Elías Piña, Dajabón, Montecristi, Santiago Rodríguez y Bahoruco, was enacted on February 22nd of 2021, in order to renew the 20 year tax incentive regime period that phased-out in February 2021, aimed at intensifying and propelling the economic, […]
The Donations Tax in the Dominican Republic applies to all transfers of property made through a Donations Act, at the same taxable rate in place for the income tax of legal entities (currently 27%), over the value of the goods donated; payable by the donatee or recipient, or by the donor if stipulated therein; according […]
Dominican Tourism Sector Tax Incentives Law 195-13, amending DR Tourism Promotion Law 158-01 dated October 9th of 2001, was enacted on December 13th of 2013 (hereinafter “Law 195-13 of Tax Incentives for the Tourism Sector”). The purpose of Law 195-13 of Tax Incentives for the Tourism Sector consists in adjusting the existing tax incentives in […]
Dominican Taxation and Tax Treaties ratified by the Dominican Republic consist of the following: Income tax: The Dominican Government levies corporate income tax at the flat rate of 27% on profit after allowable tax deductions. The basis for determining taxable income is locally sourced income and foreign source income derived from investment and financial gains. […]
The General Customs Administration has established the system for self- determination of the customs tax obligation. Through this system, the taxpayer of the customs tax obligation (importer, consignee, customs agent or broker) has the power to set, by itself, the quantity of the customs tax obligation. The above means that the taxpayer acknowledges the imported […]
Dominican Industrial Qualification Certificates were awarded to 16 companies on May of 2015 by the Center for the Industrial Development and Competitiveness that will benefit from the provisions established under Law 392-07 of Industrial Development and Competitiveness; including tax and custom duties exemptions, in order to promote actions that shall endeavor the improvement in the […]
Dominican Republic real estate property purchase or sale should be made through a written contract in which the parties reflect their agreement about the identity of the property being sold, the sales price and the terms and conditions of the sale. It is recommended that the seller and the buyer obtain advisory from an attorney in […]
Dominican Real Estate Property Sale Tax Ruling 08-2014 of December 22, 2014, provides for the Release of Real Estate Property from the seller’s information registered at the Dominican Tax Administration’s registration system. Individuals and legal entities that sale a real estate property before or after the publication of said Tax Ruling must file a release […]