Deputies modified the tax exemption project for gifts from Dominicans living abroad
<p>Santo Domingo.- The Finance Commission of the Chamber of Deputies in the Dominican Republic has approved modifications to a bill that aims to exempt gifts from Dominicans residing abroad from import taxes. The original proposal, approved by the Senate earlier this year, initially limited the...
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Santo Domingo.- The Finance Commission of the Chamber of Deputies in the Dominican Republic has approved modifications to a bill that aims to exempt gifts from Dominicans residing abroad from import taxes. The original proposal, approved by the Senate earlier this year, initially limited the exemption to specific holiday periods like Christmas, New Year’s, and summer. However, after the commission’s review, the exemption seeks to extend throughout the year, provided that Dominicans abroad have not visited the country for at least six months.
This modification intends to avoid discriminatory treatment and give all Dominicans residing abroad the opportunity to benefit from the exemption, regardless of the time of year they return to the country with gifts. The proposal is scheduled for discussion in the Plenary Session of the Chamber of Deputies, with the goal of being in force by December, allowing Dominicans to benefit from this tax exemption during the Christmas season.
Some business associations have expressed concerns that this legislation could encourage illicit trade and commercial importation of products. However, proponents of the bill argue that it is meant to benefit Dominicans and their families and should not be tarnished by concerns about illicit trade. The legislation aims to provide a tax exemption on gifts brought by the diaspora to their families and friends in the Dominican Republic.
