The Tax Agency (DGII) has extended through 11 January 2021 the tax amnesty in Transparency and Patrimonial Revaluation Law 46-20 and its amendments in Complementary National Budget Law 222-20. The laws establish a special tax regime and facilities for the payment of arrears. The Tax Agency says this is everyone’s opportunity to bring their taxes up to date.
The DGII is promoting the facilities in the laws. These are for declaring assets, including inventories; revaluing assets already presented, paying debts determined or not, either through voluntary declarations, voluntary rectifications or those under discussion in any administrative appeal or before any court in the country, with the exceptions of the cases excluded by the law; eliminating non-existing liabilities and, declaring and integrating liabilities not previously registered by accounting records.
DGII executive director Luis Valdez says that the number of who pay taxes in the country is low. He encouraged micro, small, medium and large companies to take advantage of the provisions in the law. The law says that by paying 2% of their assets, they can catch up with their tax obligations.
The Abinader administration hopes to collect RD$10 to 15 billion with the tax amnesty laws.
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DGII
DGII
Hacienda Ministry
El Dinero
Diario Libre
8 October 2020