taxes paid

billyidol

Banned
Feb 9, 2004
334
10
18
hi assuming i invest 100000k at 18% with eriberto at anoeca or the banco popular in pop!

my question are these;
WHO IS RESPONSIBLE TO PAY THE TAX?
is eriberto?
me?
will i even be checked by the tax department...assuming i earn over the tax threshold?
will the bank report to the government, re my profits??

cheers
 

sweetdbt

Bronze
Sep 17, 2004
1,574
70
0
1) Not sure how you got "eriberto" from Alberto, but that is his name.

2) To my knowledge, new customers are not being offered rates that high any more on Dollar accounts. Maybe on Pesos.

3) Although you may not need to pay DR taxes, it is possible/probable that your interest will be taxible in your home country. If you wish to "avoid" this, you will need to be "discrete" in how you get the funds to the DR. (Hint: a $100,000 wire transfer is not "discrete".)
 

Eddyx

New member
Sep 9, 2005
124
0
0
According with the tax law, just commercial societies pay tax for this type of investment.
 

BushBaby

Silver
Jan 1, 2002
3,829
329
0
79
www.casabush.org
sweetdbt said:
1) Not sure how you got "eriberto" from Alberto, but that is his name.

2) To my knowledge, new customers are not being offered rates that high any more on Dollar accounts. Maybe on Pesos.

3) Although you may not need to pay DR taxes, it is possible/probable that your interest will be taxible in your home country. If you wish to "avoid" this, you will need to be "discrete" in how you get the funds to the DR. (Hint: a $100,000 wire transfer is not "discrete".)

Right on all THREE points sweetdbt. Just to add Alberto's rates have recently reduced on Pesos & U$D investments. As far as I am aware, Banco Popular don't get close to Alberto's rates either.

Re taxes due on investments, it is my belief that laws HAVE been put into place to charge on investment income for private investers - it is just that they have not been invoked yet. Possibly something for te next term of the Leonel administration (to pay for the Metro maybe??) - possibly something to be kept free from the Rentas Internas whilst so many influential people keep investments in banks etc!! One thing IS for sure though, if you are an American citizen, discussing your finacial ideas about investments on an OPEN FORUM is NOT a good idea if you intend keeping that investment income away from the IRS. Homeland Security have ears in a lot of places they shouldn't right now!! ~ Grahame.
 

billyidol

Banned
Feb 9, 2004
334
10
18
thanks for the responses
yes i mean 100kus$
fortunately im not american and subsequently free from the apparently all seeing eyes of the irs....man' the american government is powerful...it amazes me constantly!
thanks again