NewsWhore
06-23-2006, 03:10 PM
In its quest for more revenue, the Tax Department has announced that as of 1 January 2007 all businesses will have to adhere to the new project, "Regulacion, Emision y Entrega de Comprobantes Fiscales," as reported in Clave Digital. The program for regulation, issuing and delivering of bills was published today as Decree 254-06 in local newspapers. It is a follow up to the first part of the Anti-Tax Evasion program that began with the interlinking of credit card sales to the DGII system. The credit card program resulted in an increase of 18.9% of reported sales, and in 2006 reported sales are expected to increase by 30.1%.
Juan Hernandez, director of DGII, says that with the implementation of the requirement for companies to tie in their billing system with the DGII, he expects that tax evasion will drop to the 1999 level, when it was under 30%, one of the lowest in Latin America.
The program also seeks to increase the number of businesses that pay taxes.
The authorized DGII bills will be necessary for companies to receive credits for payment of ITBIS to suppliers and to deduct expenses for payment of the income tax.
The request for bills can be made at any DGII office or online at https://www.dgii.gov.do/e-dgii/)
Link To Original Article (http://www.dr1.com/index.html#3)
Juan Hernandez, director of DGII, says that with the implementation of the requirement for companies to tie in their billing system with the DGII, he expects that tax evasion will drop to the 1999 level, when it was under 30%, one of the lowest in Latin America.
The program also seeks to increase the number of businesses that pay taxes.
The authorized DGII bills will be necessary for companies to receive credits for payment of ITBIS to suppliers and to deduct expenses for payment of the income tax.
The request for bills can be made at any DGII office or online at https://www.dgii.gov.do/e-dgii/)
Link To Original Article (http://www.dr1.com/index.html#3)