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US and Dominican governments to share tax data of citizens

Santo Domingo.- The financial data of Dominicans living in the US and Americans residing in Dominican Republic would be exchanged by both governments, to bolster compliance on international taxation, the Finance Ministry announced Thursday .

The transfer of information will be carried out in compliance with the Foreign Account Tax Compliance Act (FATCA), implemented from an agreement signed by Finance minister Donald Guerrero and US ambassador James W. Brewster.

In a press release, the Finance Ministry said the two countries signed an agreement in effect since 1989 to exchange tax information, which was the basis for the new pact.

It adds that the mutual assistance agreement in tax matters counts on an effective infrastructure to automatically exchange data and forms part of the government’s policy of transparency.

Source: DT

Sep 16, 2016

Category: DR News |

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Last updated October 22, 2016 at 2:00 PM
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