DR1 Daily News - Dominican Republic

The Dominican Republic’s 2024 tax revenue shows strong growth, driven by the sales tax and gold taxes. The tax agency, DGII reports robust tax collection figures for 2024, with a total of RD$846.46 billion, representing a 10.5% increase compared to the previous year.

The DGII explains the strong tax revenue performance is a result of the increased economic activity in general. The sales tax (ITBIS) increase reflected the 12.1% rise in total transactions and a 10.1% increase in taxable transactions.

The local sales tax (the ITBIS), mostly at 18%, generated the most of the taxes, or 24.6% of the total tax revenue – RD$207.94 billion, a 10.3% increase over 2023.

The DGII numbers show that the mining sector contributed RD$12.94 billion, up from RD$4.33 billion in 2023. The growth is attributed to higher gold prices and the expiration of tax credit compensations.

Personal income tax...