Dominican Republic: Dominican tax amnesty, a scheme to launder money?

Santo Domingo.- The 180 calendar-day period to reap the benefits of Law 46-20 on Transparency and Asset Revaluation, which expired on January 11, was short for a number of taxpayers to access the tax amnesty, which people label as a money laundering scheme.

It was what motivated Senator Faride Raful to request an amendment to the legislation, ensuring that several people had not yet been able to declare and revalue their assets, first proposing that the term be extended for 180 days, which she later asked to be for 90 days.

The law establishes: Individuals, legal entities and undivided successions and any subject or entity of private law, could avail themselves of this and declare or revalue their assets and rights and regularize their tax situation for debts pending before the General Directorate of Internal Taxes (DGII).

The owners of real estate located in the country or abroad, furniture (furniture, vehicles, machinery and equipment), aircraft, yachts and the like, cash, inventories and shares and securities, are part of the properties that could regularize or revalue.


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