Dominican Republic: Living There - Tax Issues
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Last Updated: Oct 08, 2007
Living There
INDIVIDUAL TAXATION
Residents are taxed on their worldwide income.
INCOME TAX
Personal income taxes are governed by the Law 5911 of 1962 as amended. The scale is adjusted for inflation every January.
Progressive tax rates for 2006 are as follows:
2007 INCOME TAX RATES |
|
| TAXABLE INCOME, DOP (US$) | RATE |
| Up to 290,243 (US$8,639) | nil |
| 290,243 – 435,364 (US$12,959) | 15% |
| 435,364 – 604,672 (US$17,999) | 20% |
| 604,672 – 945,000 (US$28,129) | 25% |
| Over 945,000 (US$28,129) | 26% |
| Source: Global Property Guide | |
The maximum tax rate will be gradually decreased over the next couple of years. The maximum tax rate is 27% for 2008 and 25% for 2009.
In addition to the progressive taxes mentioned above, a 1% flat rate is levied on the taxable income and a 3% surcharge applied to the income tax payable.
Dominican Republic - more data and information
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