833 repca dominicana dgii presenta nuevo procedimiento simplificado de tributacipst

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News > Archived News > CIAT News > Dominican Republic DGII presents a new Simplified Tax Procedure (PST, as per its Spanish acronym)

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Dominican Republic - DGII presents a new Simplified Tax Procedure (PST, as per its Spanish acronym)

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December 12 – The Directorate General for Internal Taxes of the Dominican

Object 1

Republic announced the coming into force of the Simplified Tax Procedure (PST), a method that will facilitate tax compliance for medium and small taxpayers.

This procedure enables individuals or legal entities adhering to such method to have their Income Tax (ISR, as per its Spanish acronym) assessed based upon their purchases or income, as well as to pay the Tax on the Sale of Industrialized Goods and Services (ITBIS) based upon the difference between their income and purchases (gross added value).

The PST shall apply as from 2009, with two calculation modalities: the first one is based upon purchases made by taxpayers mostly from the domestic industrial sector with an annual cap of 30 million pesos; the second one is based upon an annual income of up to 6.5 million.

Eligible taxpayers are those who carry out any economic activity related to the Commercial Supply sector, either wholesale and retail, and to Small Industries, and have purchases for up to thirty million pesos (RD$30,000,000.00) annually. They may include grocery stores, warehouses, drugstores, bakeries, among others.

Furthermore, individuals or single proprietors with no organized accounting, whose annual income does not exceed six million five hundred and thirty-two thousand eight hundred pesos (RD$ 6,532,800.00), may also choose this procedure. These taxpayers include grocery stores, beauty salons, liberal professionals (lawyers, doctors, dentists, accountants), among others.

The Simplified Tax Procedure highlights the tax advantages entailed by adhering to such procedure, such as: •

Taxpayers are exempted from the payment of ISR advance payments and assets tax,

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Automatic payment agreement for the ISR (3 installments for Purchases and 2 installments for Income),

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Exemption from ITBIS during the first six (6) months of the year,

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No requirement to send Tax Certificate information relative to monthly purchases and previous year sales,

Taxpayers who adhere to PST based on purchases shall receive proposals of their estimated Income Tax and ITBIS tax returns by the DGII every year, according to their type of economic activity and income bracket.

To file the tax return and pay in accordance with this Simplified Tax Procedure (PST), taxpayers from the business sector, liberal professionals and small industries shall register themselves by

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