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Dominican Republic: The Executive Branch creates regulations that eliminate the down payment

President Danilo Medina issued Decree 265-19, which created the regulation on Simplified Taxation Regime (RST), which will benefit individuals and legal entities whose annual income does not exceed RD $ 8.7 million in sales.

The regulation establishes in its article 10 that taxpayers under the RST will be free to pay advances on income tax, send informative formats for sending data established by the Internal Revenue Directorate for the ordinary regime, payment of asset tax, provided that they are related to their economic activity.

The regulation establishes a simplified system of taxation for the determination of the obligations of income tax –ISR- and of the tax on the transfer of industrialized goods and services –ITBIS- of the natural and legal persons that request to be admitted.

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