The new changes in the tax code go into effect tomorrow. Law 288-04 calls for a 4% increase in the VAT and higher alcohol and cigarette taxes. Publicity will be taxed at a 6% rate until December of this year and in 2005 the accounts will be taxed at a 10% rate. Your phone bills will be going up with an increase to 10% on all calls. For every RD$1,000 written on any check, there will be a RD$1.50 tax. There are additional taxes on luxury housing and vacant lots in urban areas, as well as inheritances.<\/p>\n
El Caribe and the Listin Diario published today the complete Tax Reform Law 288-04 of 28 September 2004. The law considerably increases taxes in the Dominican Republic in order to secure fresh resources for the Fernandez government.<\/p>\n","protected":false},"excerpt":{"rendered":"
The new changes in the tax code go into effect tomorrow. Law 288-04 calls for a 4% increase in the VAT and higher alcohol and cigarette taxes. Publicity will be taxed at a 6% rate until December of this year and in 2005 the accounts will be taxed at a 10% rate. Your phone bills … <\/p>\n