Business entities performing commercial activities in the Dominican Republic are governed by Dominican Law 479-08 of Commercial Entities and Individual Limited Liability Enterprises, enacted on December of 2008 as well as by inter party agreements, commercial practices and common law. The Law will consider that there is a commercial entity whenever two or more individuals […]
The General Customs Administration has established the system for self- determination of the customs tax obligation. Through this system, the taxpayer of the customs tax obligation (importer, consignee, customs agent or broker) has the power to set, by itself, the quantity of the customs tax obligation. The above means that the taxpayer acknowledges the imported […]
Under Dominican Republic Law 479-08 of Commercial Entities and Individual Limited Liability Enterprises provides, in relation to company mergers, that one or more business entities may by way of merger transfer their assets to an existing entity or to a newly incorporated entity. In relation to Dominican Republic company spin offs, Dominican Law No. 479-08 […]
The Dominican Limited Liability Company or Sociedad de Responsabilidad Limitada (S.R.L.) is the most common and efficient form of organizing a company in the Dominican Republic. The main characteristics of the Dominican Limited Liability Company are: The company must have at least two (2) partners. Each partner must have at least one share or quota. The […]
Dominican Companies may be represented by one or more representatives, whether compensated or not, who do not have to be partners. The representatives may delegate part or all of their duties, if the by-laws so allow, but are liable to the company for the actions of the persons to whom they delegate those. The administrators […]
Proindustria Qualification: The Tax Incentives Dominican Manufacturers Leave on the Table Hundreds of manufacturers operating in the Dominican Republic have qualified under Law 392-07 on Industrial Development and Competitiveness since 2007, yet many industrial companies, particularly foreign-owned ones, still pay taxes the law would let them avoid, simply because they never sought qualification. The Industrial […]
Dominican Regulation of Sale Transfers and Endorsements of New and Used Motor Vehicles, 06-2013 was issued on December 12, 2013 and provides for a procedure to formalize the transfers of vehicles in favor of concessionaires and dealers. Said procedure includes the duty, by the owner of the vehicle, to notify the transfer or exchange of […]
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