Etiqueta: Executive summary

[vc_row][vc_column][vc_empty_space height="10px"][vc_column_text]Payment exemption has been granted to all entities regarding the Income Tax Advance quote for March 2020, initially due on April 15, 2020. Only the following Large Taxpayers may benefit from this exoneration, considering that these are prohibited from operating as established in Decree No. 134-20 issued on March 19, 2020: a. Airports, Airlines,…

[vc_row][vc_column][vc_empty_space height="10px"][vc_column_text]Current taxes due, related to all and any payment agreement in force up to April 1, 2020, are reduced to 50%. Additionally, payment deadline is automatically extended for 3 months for quotes due on April, May and June 2020. Penalties on outstanding tax debts are eliminated.  This facility excludes the ITBIS or VAT payments due…

[vc_row][vc_column][vc_single_image image="4377″ img_size=""][vc_empty_space height="10px"][vc_column_text]The Dominican Republic has implemented various measures with the aim of confronting the Covid-19 virus.  Below is a summary of such measures adopted to date by the Dominican authorities, so that our colleagues, clients and third party providers have up-to-date and accurate information to face the ravages generated by the Covid-19. In…

[vc_row][vc_column][vc_single_image image="4383″ img_size="full"][vc_empty_space height="10px"][vc_column_text]Law No. 45-20 on Movable Collateral (“Law 45-20”) was enacted on February 18, 2020 with the purpose of establishing a legal framework that encourages the use of movable collateral, especially as a tool for small and medium enterprises to access credit . Particularly, this new law establishes a publicity and electronic registration…

[vc_row][vc_column][vc_empty_space height="10px"][vc_column_text]On March 23, 2020, Dominican Tax Authorities ("DGII for its acronym in Spanish) issued notices numbers 27, 28 and 29-20, establishing the following: 1- Deadline extension has been granted for the filing of the Informative Return for transactions carried out between Related Parties ("DIOR" for its acronym in Spanish) for entities with fiscal period…

[vc_row][vc_column][vc_empty_space height="10px"][vc_column_text]This report covers responses from 104 jurisdictions, and is dated as of Friday, March 27. Read PDF version COVID-19 Government Support Measures   The economic fallout from the COVID-19 shockwave places many companies at financial risk.   Multinational companies are particularly challenged to deal with disruptions across global markets and need to understand where…

[vc_row][vc_column][vc_single_image image="4396″][vc_empty_space height="10px"][vc_column_text]As a response to the Economic Impact of the Coronavirus (COVID-19), on March 19, 2020 the Dominican Tax Authorities issued informative Notices Nos. 23 and 24-20 regarding facilities for tax compliance and deadline extensions for the filing and payment of Income Tax and VAT, respectively Read PDF version[/vc_column_text][vc_empty_space height="21px"][/vc_column][/vc_row]

[vc_row][vc_column][vc_single_image image="4401″][vc_empty_space height="10px"][vc_column_text]In response to the need for a specific regulatory framework for public private partnerships in the Dominican Republic, and in line with the National Development Strategy 2030, it was enacted on February 20, 2020, Law number 47-20 regulating public private partnerships (hereinafter, the “PPP Law”). The importance of this text is that it…

[vc_row][vc_column][vc_empty_space height="10px"][vc_column_text] Read PDF version   I. Purpose, Scope and Application II. Assets susceptible of declaration or revaluation III. Excluded assets and rights IV. Formalities for the disclosure or equity revaluation V. Capital gain and contributions for future capitalizations VI. Tax rate VII. Procedure and requirements for debt payment VIII. Request procedure, terms and validity…

[vc_row][vc_column][vc_empty_space height="10px"][vc_column_text]As a result of the joint efforts made by the different sectors involved in the prevention of asset laundering to promote the legal framework against such illegal activity and the financing of terrorism, on June 1st,2017, the Law against Money Laundering and Terrorism Financing No.155-17 (hereinafter, the “Law” or “Law 155-17) was enacted in…