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BiggerDominicans don’t pay much income tax
Santo Domingo.- All employees who earn more than 35,000 pesos per month pay Income Tax (ISR) to the State through the withholding of a percentage of their salary that, by law, corresponds to the employer.
This amount can be used in the future to offset other tax commitments, only if you have clear accounting.
ISR is the tax levied on all income, utility or benefit, obtained by individuals, companies and undivided estates, in a given fiscal period, that is, if you work for a company and earn more than 34,700 pesos per month your employer will be withholding a monthly amount for ISR.
The money withheld from the employee’s salary goes directly to the General Directorate of Internal Taxes (DGII) or ISR, it is a cumulative amount that can be used by the taxpayer once they become unemployed, change jobs or are retired, to solve another fiscal payment or you can receive the value in check
However, most of the taxes are collected from consumption of goods and services. They should start taxing the foreigners that owe 90% of the country’s land and resources.
And, guess what! Most of those foreigners would start selling their properties if something like that occur. People in DR should appreciate foreign investments and try to attract them even more!