- Implementation of E-Invoicing: The Dominican Republic’s Government issued Decree 587-24, regulating key aspects of Law No. 32-23 on electronic invoicing, which aims to enhance tax collection and streamline administrative procedures for corporate taxpayers.
- Timeline for Adoption: The decree establishes a phased timeline for mandatory electronic invoicing based on taxpayer categories:
- Large national taxpayers: Required to comply by January 15, 2024.
- Large local and medium-sized taxpayers: Required to comply by May 15, 2025.
- Small taxpayers, micro-taxpayers, and unclassified taxpayers: Required to comply by May 16, 2026.
- Types of Electronic Tax Documents: The regulation defines various electronic tax documents, including electronic credit invoices, consumption bills, debit notes, and special regimes, all identified by a unique numerical sequence starting with the letter “E.”
- Requirements for Participation: Taxpayers must be registered, up to date on tax obligations, and possess a digital certificate to issue electronic invoices. They also need software to generate these documents, which can be developed in-house or obtained from certified providers.
- Impact on the Digital Economy: The adoption of e-invoicing positions the Dominican Republic as a leader in the Caribbean and aligns it with successful models from other Latin American countries, promoting competitiveness and improving the quality of corporate tax audits.
Source Edicom
Latest Posts in "Dominican Republic"
- Tax Authority Declares 2024 Fiscal Invoices to Expire Soon
- DGII Notice on Expiration of Fiscal Receipt Number Sequences (NCF/e-NCF) for 2024
- Briefing Document & Podcast: E-Invoicing and E-Reporting in Dominican Republic
- Mandatory Electronic Invoicing for Large Taxpayers in the Dominican Republic
- Final Deadline Set for Large Taxpayers to Implement Electronic Invoicing, Tax Authority Announces
