NewsWhore
02-01-2012, 02:40 PM
According to the Department of Taxes (DGII), salaries under RD$33,326.92 per month will be exempt from income tax, in line with the law that adjusts the levels according to inflation.
The new limit will be backdated to 1 January this year and will mean a monthly saving for salaried employees. The previous threshold was RD$30,880 per month. For example, if someone was earning RD$30,950 they would have paid RD$3.45 in 2011 and today they pay nothing. A salary of RD$33,350 used to pay RD$363.45 last year and now will pay RD$3.46 per month, a saving of RD$300.
A salary of RD$40,000 used to pay RD$1,360.95 and will now pay RD$1,000.96. A RD$50,000 salary used to pay tax of RD$3,041.42 and will now pay RD$2,501.43, for a monthly saving of RD$539.99.
A salary of RD$65,000 a month has a saving of RD$568.47.
Income tax has several scales starting at 15%, rising to 20%, with a maximum of 25%. Members of the judiciary pay a rate of 29% of their salaries according to Law 139-11.
In the country, 92% of the salaries (1.2 million salaried workers) are under the minimum salary level, that is to say they earn less than RD$33,326.92 per month.
www.listindiario.com/economia-y-negocios/2012/1/31/220094/Le-quitan-el-impuesto-a-sueldos-hasta-RD33-mil (http://www.listindiario.com/economia-y-negocios/2012/1/31/220094/Le-quitan-el-impuesto-a-sueldos-hasta-RD33-mil)
More... (http://www.dr1.com/index.html#2)
The new limit will be backdated to 1 January this year and will mean a monthly saving for salaried employees. The previous threshold was RD$30,880 per month. For example, if someone was earning RD$30,950 they would have paid RD$3.45 in 2011 and today they pay nothing. A salary of RD$33,350 used to pay RD$363.45 last year and now will pay RD$3.46 per month, a saving of RD$300.
A salary of RD$40,000 used to pay RD$1,360.95 and will now pay RD$1,000.96. A RD$50,000 salary used to pay tax of RD$3,041.42 and will now pay RD$2,501.43, for a monthly saving of RD$539.99.
A salary of RD$65,000 a month has a saving of RD$568.47.
Income tax has several scales starting at 15%, rising to 20%, with a maximum of 25%. Members of the judiciary pay a rate of 29% of their salaries according to Law 139-11.
In the country, 92% of the salaries (1.2 million salaried workers) are under the minimum salary level, that is to say they earn less than RD$33,326.92 per month.
www.listindiario.com/economia-y-negocios/2012/1/31/220094/Le-quitan-el-impuesto-a-sueldos-hasta-RD33-mil (http://www.listindiario.com/economia-y-negocios/2012/1/31/220094/Le-quitan-el-impuesto-a-sueldos-hasta-RD33-mil)
More... (http://www.dr1.com/index.html#2)