Taking Out Money

M

mountainfrog

On Vacation!
Dec 8, 2003
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Which Dominican laws regulate the outgoing foreign currency, e.g. remitting a larger sum of $$ or ?? to an overseas account?
Which ways are recommended to have the transaction done safely?
Is there a state tax to be paid?

m'frog
 
F

Fabio J. Guzman

DR1 Expert
Jan 1, 2002
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Law #183-02 (Monetary and Financial Code).

All payments abroad are subject to a withholding tax seldom enforced.

The safest way to transfer funds overseas is by wire transfer.
 
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