The Dominican Republic's Directorate General of Internal Revenue (DGII) has announced the launch of a public consultation on a draft decree to amend the transfer pricing regulations, including in relation to the country's commitments as a member of the BEPS Inclusive Framework. Key changes include:

• Updated rules on performing the comparability analysis and the applicable transfer methods in line with OECD guidelines;
• Revised requirements for the Informative Return for Transactions with Related Parties (DIOR);
• New requirements for the submission of Country-by-Country (CbC) reports from the 2021 reporting fiscal year, including secondary local filing requirements, with the reporting threshold to be issued by the DGII; and
• New requirements for the submission of a Master file and Local file (or transfer pricing study) in line with OECD guidelines within 180 days after the deadline for submitting the DIOR, with the current documentation exemptions generally maintained.

The consultation period runs from 1 March to 5 April 2021.