Nice People Networking

Entrepreneurs have to use a special financial software to track ITBIS

All commercial enterprises in the SosĂșa area have recently received a letter from the IRS (Direccion General de Impuestos Internos) in which they are given notice that they have to install a financial software program.

With this program the turnover of the company is exactly registered and what amount of ITBIS (value added tax) should be paid to the government. For smaller enterprises, the program costs about 80,000 peso. Larger companies have to pay several hundred thousand pesos for the program. In SosĂșa at least the supermarket Playero, the Rumba Bar and liquor store SuperSuper have already purchased such a program and put it into use. All companies, big or small, will have to use the program from January 1, 2014. If not, the business will be closed including a hefty fine and possibly jail time for the owner of the company. Many owners of small businesses are now panicking because they can not afford such a big expense (80,000 pesos or more).

For more information see:www.dgii.gov.do

Source: Sosua News

Category: DR News |

Leave a comment

You must be logged in to post a comment.

Last updated December 8, 2016 at 12:39 AM
stats for wordpress
View Statistics Report
Facebook Twitter