The Chamber of Deputies passed the bill that extends tax exemptions for those operating in the seven border provinces – Pedernales, Independencia, Elías Piña, Dajabón, Santiago Rodríguez and Montecristi. The bill now moves on to the Senate for its approval.
Companies operating in the area will have 30 years of tax exemptions. The incentives seek to encourage more companies to open branches or operate in the border provinces to encourage the population to remain in those provinces on the border with Haiti. Provinces on the border with Haiti are among the least populated and those with populations with the lowest incomes.
The Chamber of Deputies amended the bill it had recently passed that limited manufacturers to selling within the border provinces in order to keep the tax incentives. That bill did not pass in the Senate, causing an impasse. President Luis Abinader intervened and the Chamber of Deputies now has revised the bill to exclude the conflicting clauses. The bill now moves to the Senate for its approval.
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N Digital
11 February 2021