7 November 2019
The Dominican Republic has published the draft Budget for 2020. One of the main measures of the budget is the introduction of a digital services tax (DST). The DST is to be levied at a rate of 10% on online services provided to Dominican Republic residents, with intermediaries involved in the payment to act as a withholding agent.
Other planned measures of the budget include the revision of the country's transfer pricing regulations, as well as the introduction of CbC reporting requirements. Details on these changes have not yet been provided but will likely be in line with the standards of BEPS Action 8-10 and Action 13 given that the Dominican Republic is a member of the BEPS Inclusive Framework. Details will be published once available.
Click the following link for the Dominican Republic Budget webpage.
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