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Dominican Rep

22 May 2020

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Dominican Republic Provides Asset Tax Exemption for Small Companies and Further Advance Tax Exemption and Deadline Extensions

The Dominican Republic's Directorate General of Internal Revenue (DGII) has announced that an exemption from the first installment of asset tax is being provided for small companies in the context of the COVID-19 crisis. The deadline for the first installment for companies with a 31 December 2019 year-end would have been 29 June 2020. This exemption is limited to businesses whose income for the 2019 fiscal year did not exceed DOP 58,314,600. If a qualifying company has already paid the installment, they are exempt from paying the second installment in October 2020.  The exemption may also be applied in relation to the second installment for small companies that have a 30 June 2019 year-end.

The announcement also includes that a further exemption from advance income tax (ISR) payments has been provided for all taxpayers for the May period, which would normally be due on 15 June 2020. For large taxpayers, however, a request must still be made if unable to pay.

Lastly, the announcement notes that due to the extension of the state of emergency to 1 June 2020, the deadlines for the presentation and payment of various tax obligations are extended from 29 May to 29 June 2020. This includes, among others, the filing of the corporate income tax return (IR-2) for the fiscal year ended 31 December 2019. The ability to enter into an agreement for the payment of tax in four monthly installments is also still available.

Further details on exemptions and extensions can be found in Notice 60-20 and Notice 61-20 of 18 May 2020.

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