For individuals: income below RD$90,720.00 pesos per annum is exempt from income tax; from RD$90,720.01 to RD$151,200.00 pesos, the tax rate is 15%; from RD$151.200.01 to RD$226,800.00 pesos, increases to 20%; above RD$226,800.01 pesos pays 25%. These tax brackets are adjusted for inflation every year in January. The 1999 adjustment should be announced this week.
For corporations: flat tax of 25% of net income. There is no double taxation on dividends received by shareholders.
The Dominican Tax Code, enacted in 1992, is a simple and straightforward legal instrument from which some First World countries could learn.