Law No. 253-12: Strengthening the State’s Revenue Collection Capacity
Law No. 253-12 aims to strengthen the Dominican State’s revenue collection capacity to ensure fiscal sustainability and promote sustainable development. Among other amendments, it introduces adjustments to the Dominican Tax Code, particularly regarding taxable income earned by non-resident or non-domiciled taxpayers in the Dominican Republic.
This law establishes that:
- Individuals, legal entities, or non-resident entities that generate income within Dominican territory through a permanent establishment are subject to taxation on the total income attributable to such establishment.
- These establishments will be taxed in accordance with the rules applicable to legal entities as defined in the Tax Code.
- However, permanent establishments do not acquire residency status solely for this reason.
Tax Exemption
The law also includes an important tax exemption. According to Article 14, Paragraph III:
- A residential property owned by an individual who has reached the age of 65 shall be exempt from this tax, provided that the property constitutes their sole real estate asset.
This means that individuals who meet these criteria may benefit from this tax exemption.
Why Hire Our Services?
Understanding and applying the provisions of Law No. 253-12 can be a complex process. Our team of attorneys specializing in tax law is here to:
- Assess your tax situation and determine your eligibility for the exemptions established by this law.
- Assist you in managing and submitting the necessary documentation to ensure compliance with the applicable regulations.
Do not miss the opportunity to optimize your tax obligations. Contact us today and let our experts guide you toward better resource management.
Recent Posts
Expert Legal Solutions Tailored to Your Needs
Get in Touch
Boulevard 1ro. de Noviembre, number 701, GAL Business Center, 3rd level, local 33B, Puntacana Village, Punta Cana, La Altagracia Province, Dominican Republic
+1 (809) 795-6717
example@example.com
