NewsWhore
07-23-2008, 04:00 PM
The Tax Department (DGII) is offering tax incentives to foreign companies that bring new technologies into the country. They are offering income tax exemption for companies that come with projects that will develop products, conduct research and develop technology as well as training personnel and protecting the environment. Anyone offering consulting services in these areas will also be exonerated from paying income tax, according to Articles 47 and 48 of Law 392-07 on Competitiveness and Innovation. The DGII has also circulated a new resolution that deals with the promotion of industrial innovation and modernization. In order to make the most of the new incentives, taxpayers should submit their "Resolution of Definitive Qualification" emitted by Proindustria, and formalize the request for exoneration from IRS taxes, explicitly indicating what type of services they will contract overseas, the amount and time for said services and submitting a copy of the contract.
There are other benefits that are related to the processes of renovation and modernization over a five-year period and covered in Article 50 of the law on Competitiveness and Innovation.
More... (http://www.dr1.com/index.html#3)
There are other benefits that are related to the processes of renovation and modernization over a five-year period and covered in Article 50 of the law on Competitiveness and Innovation.
More... (http://www.dr1.com/index.html#3)