Local Report or Transfer Pricing Study

The Local Report or Transfer Pricing Study is the document that reports the process of valuing or evaluating transfer prices, containing information about the local entity, transactions with related companies, and financial information.

At CONTADORES DOMINICANOS, we have extensive experience in all matters related to Transfer Pricing. We can help your company properly submit the Transfer Pricing Report, as well as the Local Transfer Pricing Study Report.

Who is required to submit the Local Report?

All taxpayers subject to the Transfer Pricing regime must submit this report. According to the Transfer Pricing Law in the Dominican Republic, the taxpayers affected by this regulation are all individuals, legal entities, or resident entities that carry out transactions with:

Their related parties abroad.
Their related resident parties.
Individuals, companies, or entities resident or domiciled, constituted, or located in States or territories with preferential fiscal regimes, low or zero taxation, or tax havens, whether or not these latter are residents.

Deadline:

The submission date for the local report is within one hundred and eighty (180) days after the DIOR submission deadline, starting from the 2021 fiscal period.

Reference:

DIOR submission deadline

May 3rd

July 29th

October 28th

January 28th

Penalties for non-compliance with Transfer Pricing in the Dominican Republic:

For failing to meet the established deadline or providing false information: the penalty will correspond to the fines specified in Article 257 of the Tax Code.
Failure to fulfill formal obligations: a fine of 5 to 30 minimum wages.
Failure to submit information: the fine established for non-compliance with formal obligations will be applied, and additionally, a penalty of 0.25% of the declared income from the previous fiscal period.

Our services include:

Submission of Transfer Pricing Study or Local Report.