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INTRODUCTION

The Commonwealth of Dominica (Dominica) is known as the 'Nature Isle'. It is located north of Martinique and to the south of Guadeloupe in the Caribbean Sea. Dominica's capital is Roseau. Dominica's economy is mainly dependent on agriculture and tourism.

The currency is the East Caribbean Dollar (XCD).

Dominica has been removed from the EU blacklist of non-cooperative jurisdictions for tax purposes as per the EU Council decision of 12 October 2021, since the country  committed to implement tax good governance principles.

Abbreviations:

CFC Controlled Foreign Company
CIT Corporate Income Tax
CARCIOM Caribbean Community
DTAA Double Taxation Avoidance Agreement
GAAR General Anti-Avoidance Rule
IBC International Business Company
IFRS International Financial Reporting Standards
IRD Inland Revenue Division
PE Permanent Establishment
PLC Public Limited Company
SRL Private Limited Liability Company
VAT Value Added Tax
WHT Withholding Tax
XCD East Caribbean Dollar