Tax reform targets new vehicle owners the most
Santo Domingo.- Vehicle manufacturers will be forced to adopt specifications for fuel consumption and greenhouse gas emissions related to C02-carbon.
Dominican Republic’s Tax reform Law 253-12 levies two new taxes which vehicle owners will feel: the first license plate and the yearly renewal.
The Internal Taxes Agency (DGII) announced the publication of the rules for the levied taxes, which it has drafted with vehicle importers.
The agency also plans to carry out future renewals of the license plate stickers with prepaid cards via the Internet, DGII director Guarocuya Felix recently told journalists, and also revealed that the entity works to link its online database with Customs.
The fee for the renewal of motor vehicle plates takes effect by yearend 2013, while others have taken effect in a deferred basis once the reform is published in January, and will be charged in March.
The government’s new tax secures the funds needed for development projects, eliminates the budget deficit and raises the tax burden but which doesn’t exceed 15% of the GDP.
Together with Law 253-12, the Government enacted a new tax amnesty law, which is expected to boost revenue from RD$2.5 billion to RD$3.0 billion