12 August 2021
The Dominican Republic's Directorate General of Internal Revenue (DGII) has announced a public consultation on a draft general standard for Country-by-Country (CbC) reporting. Comments are due by 7 September 2021.
The requirement to submit a CbC report was introduced by Decree No. 256-21 of 20 April 2021 with effect from 2022, although specific rules for the application of the requirement were not provided in the Decree. The specifics are provided by the draft general standard, including the following key points:
The draft general standard also provides templates for the CbC report, including the three standard tables in line with OECD guidelines. Lastly, it is provided that the DGII will establish the format and channels for submitting the CbC report.
We’re here to answer any questions you have about the Orbitax products and services.
We’re committed to providing high value, low cost tax research and management solutions.
Our Twitter account is where you can find latest information, news updates, offers and lots more.