- Payment processing companies, payment aggregators and electronic payment companies have been appointed as withholding and collection agents of the Value Added Tax (VAT).
- The withholding rate is 2% of VAT paid and, in case of collections, these entities should collect 100% of VAT paid.
- Services provided by payment system administrators, electronic payment entities, payment processing companies, payment aggregators and ATM network administrators are recognized as financial services exempt from the VAT.
Source EY
Latest Posts in "Dominican Republic"
- Comprehensive Guide to Electronic Issuer Certification in Dominican Republic: Steps and Regulations
- E-Invoicing Implementation Deadline Extended for Large Local and Medium Taxpayers
- The e-Invoicing Mandate in the Dominican Republic: What do you need to know?
- Dominican Republic Launches Final Stage of E-Invoicing Implementation
- Dominican Republic Mandates E-Invoicing for All Taxpayers by May 2026 Deadline
