- Dominican Republic introduced fiscal reform plan on 8 October 2024
- Plan aims to modernize tax system and increase revenue
- Reviewing tax incentives for sectors like tourism and cinema
- Introducing new income perception system and mass audits to address tax evasion
- Applying income tax and VAT to services provided from abroad
- VAT exemptions for commercial and tourist lodging rentals through online platforms will be removed
- VAT will be applied to low-value goods imports
- Taxes on alcoholic and sugary beverages will increase
- Social programme “Aliméntate” will be expanded
- Minimum wage in public sector will rise
- Infrastructure projects, including metropolitan train and monorail, are part of the reform
- Over 20,000 security agents will be hired and 116 new police stations will be built
- Provisions will take effect upon publication, except for LVG regulations, which allow 120 days for implementation.
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
