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CONTADORES DOMINICANOS
The monthly affidavit of ITBIS (also known as VAT declaration in other countries) is the Tax on Transfers of Industrialized Goods and Services which is applied to all transactions of both purchase and sale of products and services in the Dominican Republic. Due to this, a monthly tax payment is generated which is due to the result of the monthly tax declaration.
The service consists of the monthly presentation of taxes, by means of the sworn declaration of monthly income before the General Directorate of Internal Taxes (DGII) in order to keep your company in compliance with its tax obligations. Making a correct application of the ITBIS in the corresponding cases according to the product or service in question, since it could be an exempt good or service or with a different value than the one we commonly see of 18%.
It is declared because it is one of the obligations established by our legislation for the commercial companies established in the Dominican Republic, through which it is established the mandatory monthly presentation of this and other reports.
Once the commercial companies are incorporated, they become ITBIS withholding agents, taxing their clients with this tax in all their transactions, reason for which it must be reported and paid monthly to the General Directorate of Internal Taxes (DGII). The ITBIS is one of the taxes that generates more revenue and in a more continuous way to the treasury for the achievement of the plans of the executive power and other powers of the state.
Una vez constituidas las sociedades comerciales se convierten en agentes de retención de ITBIS, gravando a sus clientes con este impuesto en todas sus transacciones, razón por la cual se debe informar y pagar mensualmente a la Dirección General de Impuestos Internos (DGII). El ITBIS es uno de los impuestos que genera más recaudación y de forma más continua al fisco para la consecución de los planes del poder ejecutivo y demás poderes del estado.
The ITBIS rate is 18% on the value of the product or service marketed, with the exception of the list of exempted goods or with a reduction as a result of special laws that seek to preserve the low cost of the family basket and in other cases promote the growth of certain industries.
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