2001News

Stores soon to be required to separate tax from price

Teófilo Tabar, director general of the Tax Bureau (DGII) announced that in 2001 his department is working on ways to make transparent the paying of the value-added ITBIS tax. He announced that store invoices should feature separately the price of the article and the tax on the item. While many stores already do this, in several the tax is included as part of the price. He said businesses should also list the items that are exempt from the ITBIS tax, including many food products. There will be standard billings and cross checking of information to reduce tax evasion, he announced for 2001.