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Dominican Republic’s new tax amnesty law is harsh on dodgers

Santo Domingo.- The Senate on Wednesday passed the tax amnesty bill with amendments including declaring the prosecution and punishment of tax evasion and fraud a high priority.

To accomplish that, the tax authorities would submit to Congress, within six months, a bill to bolster prevention, controls and penalties for those who violate the tax system.

Taxpayers who file debts for investigation into the fraudulent use of Tax Receipt Numbers are not eligible for the tax amnesty, or those under investigation for falsifying customs procedures.

Moreover, the fact that a person applies for the amnesty doesn’t release them from criminal liability for committing felonious actions.

The Amnesty will include payment of income, ITBIS (VAT) and Property Transfer taxes.

Also inheritance tax, Real Property (IPI), on the assets applied to real estate and interests, surcharges and penalties relating to imported goods.

The rules to apply for the amnesty include the requirement that the amount to be paid is waived of interest and penalties only if a single payment is made within the first 20 days from the date the DGII issues the payment authorization.

The bill passed unanimously with the vote of the 23 senators present in the session.

Source: Dominican Today

Category: DR News |

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Last updated December 4, 2016 at 1:52 AM
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