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Let's talk about Capital Gains Tax in the Dominican Republic, establishing its application and when it needs to be paid. It is always.
Capital Gains Tax. The Dominican Tax Code defines capital gain as the difference between the sale price of a capital asset and its acquisition price or production cost adjusted for inflation. In the case of assets subject to depreciation, the rate of inflation is applied to the residual value adjusted for inflation.
Un taxpayer that does not declare impuesto on income (IR-1 or IR-2), how payment el Tax to Gain de Capital? You must request validation of the calculation and determination of the impuesto attaching reliable documentation that supports the amounts of the transaction.
17 Ιουλ 2024 · Dominican-source income is subject to tax, while foreign-source income is generally not. However, residents are subject to taxation on foreign investments and financial gains. In the case of individuals who become residents, this foreign-source income is taxed only after the third year.
17 Ιουλ 2024 · Capital gains are taxed as ordinary taxable income and are determined by deducting the fiscal cost from the sale amount. Dividend income. Cash dividends are exempt, provided the 10% WHT was applied by the entity. Shares dividends are also exempt. Interest income.
17 Ιουλ 2024 · Corporate - Income determination. Last reviewed - 17 July 2024. Inventory valuation. The last in first out (LIFO) method of inventory valuation is established for tax purposes. Other methods may be authorised upon request. Conformity between book and tax reporting is not required.
II. Capital gains: Capital gains are subject to income tax at a 27% rate. The basis for determining a capital gain or loss is the purchase cost of the capital asset adjusted by local inflationary rules, which is deducted from its sales price or transfer value.
