The Dominican Republic’s 2024 tax revenue shows strong growth, driven by the sales tax and gold taxes. The tax agency, DGII reports robust tax collection figures for 2024, with a total of RD$846.46 billion, representing a 10.5% increase compared to the previous year.
The DGII explains the strong tax revenue performance is a result of the increased economic activity in general. The sales tax (ITBIS) increase reflected the 12.1% rise in total transactions and a 10.1% increase in taxable transactions.
The local sales tax (the ITBIS), mostly at 18%, generated the most of the taxes, or 24.6% of the total tax revenue – RD$207.94 billion, a 10.3% increase over 2023.
The DGII numbers show that the mining sector contributed RD$12.94 billion, up from RD$4.33 billion in 2023. The growth is attributed to higher gold prices and the expiration of tax credit compensations.
Personal income tax showed a healthy growth of 13.6%, for RD$13.92 billion.
Corporate income tax and asset tax collections were up slightly by 3.6%.
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El Dinero
19 February 2025