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Dominican Republic

30 July 2021

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Dominican Republic Senate Approves Law to Promote Public Offerings in the Dominican Republic Stock Market Including Tax Incentives

The Dominican Republic Senate (upper house of Congress) approved the Law for the Promotion of the Placement and Commercialization of Public Offering Securities in the Stock Market of the Dominican Republic on 15 July 2021, following the law's approval in the Chamber of Deputies (lower house). The law provides several incentives in relation to the promotion of listing securities on the Dominican Republic stock market, including:

  • An exemption from the 1% tax on capital increases for companies issuing shares or other equity-like instruments for a period of 3 years;
  • An exemption from the 1% withholding tax on the purchase and sale of shares and securities;
  • A reduction of the capital gains tax rate to 15% on the disposal of shares or other equity-like instruments for a period of 3 years for both individuals and legal entities; and
  • An exemption from the tax on the transfer of industrialized goods and services (ITBIS) and real estate transfer tax on the transfer of assets or other goods to a special purpose vehicle quoted on the Dominican Republic stock market.

The law must be signed by the president to enter into force, which is expected in the near future. Further details on the law's implementation will be published once available.

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