24 January 2020
The Dominican Republic’s Directorate General of Internal Revenue (DGII) has issued Notice 8-20, which sets the related party transaction threshold for transfer pricing reporting purposes in 2020 at DOP 11,552,402. This generally means that where aggregate related party transactions do not exceed that threshold in 2020, the transfer pricing reporting requirements do not apply. For 2019, the threshold was set at DOP 11,144,913.
The DGII has also issued Notice 4-20, which sets certain other tax-related thresholds for 2020. For companies, the main threshold is in respect of the requirement to submit sworn financial statements with the annual tax return, which is required when turnover meets a threshold of at least DOP 15,216,507. For 2019, the threshold was set at DOP 14,679,773.
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.