Presidential Decree 404-19 now regulates the classification and registration of micro, small and medium-sized enterprises (MSMEs) in the Dominican Republic. The regulation contains the dispositions to apply, complement and make operational the legal classification and the business registry for the development and competitiveness of MSMEs.
Article 12 of the decree establishes that in accordance with Article 22 of the Small Law 488-08, the MSMEs business registry is created under the Deputy Minister of Industry and Commerce and MSMEs and the small business division of that Ministry.
Similarly, Article 19 says that the Ministry of Industry and Commerce and MSMEs will verify the criteria for classification by size and other requirements established in Law 488-08 and this regulation.
The ruling improves the outlook for small businesses, at present obliged to comply with most of the same rules as big business.
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Presidencia
26 November 2019