The Dominican Republic Association of Industries (AIRD) has published a research study entitled, “Analysis of Intellectual Capital of Dominican Companies: the Importance of Ideas and Knowledge”. Among other things, the study recommends that the Tax Agency (DGII) recognize intangibles as company assets, as reported in El Nuevo Diario.
The study was carried out by Victor Gomez Valenzuela and sponsored by the Dominican Office of Intellectual Property, the National Competitiveness Council, Atabey and the AIRD.
The study concludes that the Dominican economy can be knowledge- based, but strategic investments must be made to foster innovation and long-term growth of this sector.
The study confirmed that it is necessary that as a society we understand that it is not possible to create sustainable high value sources of development capital and social inclusion if the capacity of Dominican industry to become competitive in the long term is hindered.
Gomez Valenzuela called for changes. He said the country is on downward path to lose its manufacturing base – given that in 2015 most imports will enter the country tax free under the DR-CAFTA treaty. Gomez advocated for the tax authorities to recognize and value the cost of research and development in companies so that the activities can be tax deductible.
http://www.listin.com.do/economia-and-negocios/2014/8/5/332540/RD-necesita-mejorar-en-materia-de-innovacion
Considera el país se dirige a la desindustrialización económica