President Luis Abinader enacted Assets Reassessment Law 7-21 that extends Law 46-20 and adds new provisions. The tax facility had expired on 11 January 2021. The new law establishes a transitory special tax regime that allows taxpayers to declare, revalue and make the corresponding payments to the Tax Agency (DGII) and regularize their tax obligations. The provision is valid for individuals and companies. It enables these to settle tax debts with significant reductions in the late payments, interest and penalties that would have been paid.
The temporary facilities are in effect for three more months. The Abinader administration expects to collect RD$55 billion in taxes as people who have acquired new wealth regularize their status.
Read more in Spanish:
Presidency
25 January 2021