The Department of Taxes (DGII) reports that wages up to RD$27,525 per month will be exempt from paying taxes. This is up from RD$26,334 tax exemption for 2008. The DGII reports that wages up to RD$330,301 a year are exempt, which on a 12 month base breaks down to RD$27,525. Those earning from RD$330,301.01 to RD$495,450.00 will pay 15% on the difference above RD$330,301.01. Those from RD$495,450.01 to RD$688,125.00 will pay an additional 20% on the difference above RD$495,450.01, and those from RD$688,125.01+ will pay RD$63,307 plus 25% of the difference above RD$688,125.01.<\/p>\n
The rates are adjusted for the 4.52% inflation rate published by the Central Bank. The lower than expected inflation rate is a result of the drop in oil prices.<\/p>\n
The DGII also reports that the exchange rates for calculations for fiscal year 2008 will be RD$\/US$35.39 and RD$\/EUR$48.12.<\/p>\n
For more on tax adjustment numbers, see www.dgii.gov.do<\/p>\n","protected":false},"excerpt":{"rendered":"
The Department of Taxes (DGII) reports that wages up to RD$27,525 per month will be exempt from paying taxes. This is up from RD$26,334 tax exemption for 2008. The DGII reports that wages up to RD$330,301 a year are exempt, which on a 12 month base breaks down to RD$27,525. Those earning from RD$330,301.01 to … <\/p>\n