NewsWhore
12-01-2009, 03:50 PM
Consider choosing an American-made car for your next purchase, even if it is a Toyota, because as of 2010 cars with at least 35% US components will benefit from tax exemptions included in the DR-CAFTA free trade agreement. The
Dominican Republic-Central American Free Trade Agreement also applies to vehicle spare parts, batteries and tires, as long as they are made in the US.
Listin Diario reports that the tax break goes into effect in 2010.
For the time being however, these vehicles pay 5% tax, given that the gradual dismounting of taxes began in 2005 when the rate was at 20%, and US cars are not bargain-priced. Despite the duty free treatment under DR-CAFTA, the Dominican government levied a 17% first license plate tax on vehicles, preventing consumers from benefiting from the duty free exemption.
More... (http://www.dr1.com/index.html#12)
Dominican Republic-Central American Free Trade Agreement also applies to vehicle spare parts, batteries and tires, as long as they are made in the US.
Listin Diario reports that the tax break goes into effect in 2010.
For the time being however, these vehicles pay 5% tax, given that the gradual dismounting of taxes began in 2005 when the rate was at 20%, and US cars are not bargain-priced. Despite the duty free treatment under DR-CAFTA, the Dominican government levied a 17% first license plate tax on vehicles, preventing consumers from benefiting from the duty free exemption.
More... (http://www.dr1.com/index.html#12)