Customs to charge a sweeping 9% tax starting next year
Santo Domingo.- Starting next year the government plans, through Customs, a 9% ITEBIS tax on raw materials, industrial machinery and capital goods which currently pay zero, according to Article 24 of the 2005Tax Reform.
Among the items cited in Article 24 of the 2005 Tax Reform figure roosters and hens, poultry for breeding, dehydrated packaged meat of up to 25 kg of tuna, yellowfin tuna, herring and cod. Also sardines, flour, sorghum, corn.
The legislation also transfers 50% of the Dominican Telecom Institute’s (Indotel) revenue, to the Treasury, as stipulated in rhe Telecommunications Contribution Development Law.
The legislation also instructs the State-owned Reservas bank to transfer funds to the Treasury by the 15th of each month, a measure which the Comptroller will enforce.
Oct 4, 2016
Category: DR News |