Tax and Financial Reporting Requirements of Non-Profit Associations

I help a local charity which is about to be incorporated as a non-profit organisation ("sin fines de lucro"). Can anybody please advise me about the tax and financial reporting requirements which the government requires from such organisations?

We need to conserve the limited funds we have available as far as possible in order to meet the needs of our charity and to avoid expensive accountancy or other expensive professional fees. I.e. if we can, we want to do everything ourselves using the skills of our members (who include at least one professional accountant who is qualified from another country but is not cognizant of the requirements of the Dominican government).

If you can help or advise us if you can we will be very grateful!

Thanks

Thank you, Dr Guzman. I found Law #122-05 easily, but the Reglamento is causing more of a problem. My search took me to the page of The Legal Adviser of The Executive Branch, but when I press the link to this Reglamento all I get is the "page not found" message from Google. If you know of another way for me to obtain this information I will be very grateful! Thank you again.

Thank you for the link, Mr Lu. Reading and trying to understand this document will obviously keep me busy for some time!

mambodog