NewsWhore
09-08-2010, 04:50 PM
The Department of Taxes (DGII) announced yesterday that they are investigating 35,000 cases of tax receipts whereby businesses could be attempting to pass off personal luxury items as tax-deductible company expenses. According to El Nuevo Diario, acting Tax Department director Germania Montas told reporters that companies have been reporting personal expenses such as purchases of jewelry, liquor, gym memberships, trips, restaurants, and vehicles to avoid paying taxes to the government.
The DGII recently reported that an expense of more than RD$50,000 needs to be supported by a bank check or transfer to be tax deductible. Cash payments are not acceptable deductions as of that amount. She explained that when cash payments are made, the DGII cannot distinguish between personal purchases or purchases for the business. An investigation was carried out into 35,000 dubious tax receipts (comprobantes fiscales). She says that they act as checks made out to the bearer that the companies use to reduce its payments on annual earnings. The DGII is becoming stricter on deductions accepted as expenses that must be directly related to the business.
http://dgii.gov.do/noticias/Paginas/DGIIestablecenuevasmedidasparatransparentarlosreportesdegastosdelasempresas.aspx
More... (http://www.dr1.com/index.html#3)
The DGII recently reported that an expense of more than RD$50,000 needs to be supported by a bank check or transfer to be tax deductible. Cash payments are not acceptable deductions as of that amount. She explained that when cash payments are made, the DGII cannot distinguish between personal purchases or purchases for the business. An investigation was carried out into 35,000 dubious tax receipts (comprobantes fiscales). She says that they act as checks made out to the bearer that the companies use to reduce its payments on annual earnings. The DGII is becoming stricter on deductions accepted as expenses that must be directly related to the business.
http://dgii.gov.do/noticias/Paginas/DGIIestablecenuevasmedidasparatransparentarlosreportesdegastosdelasempresas.aspx
More... (http://www.dr1.com/index.html#3)