New Tax on Checks and Electronic Transfers

F

Fabio J. Guzman

DR1 Expert

Jan 1, 2002

2,359

252

83

www.drlawyer.com

• Oct 3, 2004

• #1

The Tax Reform Bill signed into law by President Fernandez last week provides for a tax of 1.5 per thousand (0.15%) on every check or electronic transfer. Only cash withdrawals and payments to the Social Security Admnistration and the Dominican Government will be exempted from this tax.

 

B

Buzzard

Well-known member

Feb 28, 2004

518

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86

Costambar

• Oct 3, 2004

• #2

Checks cashed at cambios

Are checks cashed at cambios subject to this tax?

 

S

Sanson

New member

Apr 14, 2003

129

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• Oct 7, 2004

• #3

Mr. Guzman, Are electronic transfers of funds in the same bank billed by this tax? Between banks?

Thanks.

 

F

Fabio J. Guzman

DR1 Expert

Jan 1, 2002

2,359

252

83

www.drlawyer.com

• Oct 7, 2004

• #4

Checks cashed at a Casa de Cambio will be subject to this tax.

Transfers in the same bank from one person's account to another's will also be subject to this tax.

 

K

kfrancis

New member

Jan 8, 2002

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rockharddesigns.com

• Oct 11, 2004

• #5

Per Cent rate

Is this rate 1.5% ( .015% ) or 15% as listed ( .15% ) Or some thing else. There is a significant difference.

 

H

HOWMAR

Silver

Jan 28, 2004

2,624

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• Oct 11, 2004

• #6

kfrancis said:

Is this rate 1.5% ( .015% ) or 15% as listed ( .15% ) Or some thing else. There is a significant difference.

Click to expand...

It is 1.5 pesos/thousand pesos which equals .15%.