Economy October 3, 2016 | 11:00 am

Buy car in DR

Customs to charge a sweeping 9% tax starting next year

Santo Domingo.- Starting next year the government plans,through Customs, a 9% ITEBIS tax on raw materials, industrial machinery andcapital goods which currently pay zero, according to Article 24 of the 2005TaxReform.

Among the items cited in Article 24 of the 2005 Tax Reformfigure roosters and hens, poultry for breeding, dehydrated packaged meat of upto 25 kg of tuna, yellowfin tuna, herring and cod. Also sardines, flour,sorghum, corn.

The legislation also transfers 50% of the Dominican TelecomInstitute’s (Indotel) revenue, to the Treasury, as stipulated in rheTelecommunications Contribution Development Law.

The legislation also instructs the State-owned Reservas bankto transfer funds to the Treasury by the 15th of each month, a measure which theComptroller will enforce.

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