Income taxes

NuevoDominicano

New member
Mar 18, 2002
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I am new to the DR and want to know what taxes and at what rates I must pay on my earnings. I am self employed. Others have questioned my sanity about paying taxes if there isn't much chance they will ever see my income or me, as I don't have a store or an office. I like to play things straight and I sleep like a baby because of this.

Can someone tell me the MINIMUM taxes and also the different types of taxes there are, which I should be paying if I am going to be legal and already earn over $10,000 a month? Thanks.
 

Escott

Gold
Jan 14, 2002
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www.escottinsosua.blogspot.com
NuevoDominicano said:
I am new to the DR and want to know what taxes and at what rates I must pay on my earnings. I am self employed. Others have questioned my sanity about paying taxes if there isn't much chance they will ever see my income or me, as I don't have a store or an office. I like to play things straight and I sleep like a baby because of this.

Can someone tell me the MINIMUM taxes and also the different types of taxes there are, which I should be paying if I am going to be legal and already earn over $10,000 a month? Thanks.

Screw the taxes, gimme a job meng.
 

NuevoDominicano

New member
Mar 18, 2002
7
0
0
taxes-better question

I looked at the DR1 section on taxes, and these numbers are not up-to-date, there has been a cost of living increase in these levels of the personal income taxes. (this much i know)

Also, I will ask my question in a different way- I am thinking about hiring someone (sorry guys I alreddy know who i want) and to be paying them $12,000 a month to start. For the company, what additional taxes does my company have to pay on this employee to stay legal- I know there is something for Social Security, and the Christmas pay thing, but are there other taxes that the company has to pay on this guy too? Also what is the rates these are figured at, and does the rate change?

Yea yea, i know that an accounting guy would know these answers, but hey, you guys are good too, and free.

I just want to know if it is worth getting more business, or forgetting this and just doing my own things without the extra cost and trouble and headaches of having employees too. If i have more work, i want more money to do it too.
 

Fabio J. Guzman

DR1 Expert
Jan 1, 2002
2,359
252
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www.drlawyer.com
New Income Tax Schedule for Individuals Adjusted for Inflation

Up to RD$125,256 - exempt
RD$125,256-RD$208,760 - 15%
RD$208,760.01 to RD$313,140 - 20%
Above RD$313,140.01 - 25%

Regarding what should be paid for/to every worker, in addition to the 13th salary or Xmas bonus and Social Security, you should add annual participation in the company profits, vacations, maternity leave and INFOTEP.