5% Inheritance Tax and 25% on donations!

Conchman

Silver
Jul 3, 2002
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According to DR1, the new tax code proposed by Leonel's administration will include a 5% inheritance tax and 25% on donations.

Anybody know if the inheritance tax would be applicable only to the DR citizens or DR property? What about shares owned in DR companies? Anybody have any insight?
 

Fabio J. Guzman

DR1 Expert
Jan 1, 2002
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This is a significant change from the current law in which estate taxes range from 17 to 32%.

Estate taxes are applicable to any property located in the Dominican Republic including shares in Dominican companies.