2012News

Tax office: don’t forget new taxes in 2013

The Tax Office (DGII) is warning the commercial sector, the business community and family businesses, with or without tax forms, that beginning in January they must invoice their operations and tax according to the new ITBIS (VAT). January will bring ITBIS invoicing at 18% up from 16% as set out in Law 253-12. The agency recalled that the tax identification forms were introduced in 2008, as part of the Anti-Evasion Plan initiative that the DGII presented at the end of 2004. The idea was to establish an effective control mechanism for the fulfillment of tax payments and as a way of reducing ITBIS evasion, which represented 41.7% of the potential money collected that same year, but today the figure is closer to 30%. The DGII recently announced a tax incentive program for commercial establishments that have not yet installed tax printers, which they are obliged to have by law. This is a total or partial credit for the cost of installing the tax printers according to a schedule to be followed that notes that there are four periods in the four quarters of the year 2013.