- 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"
- Final Deadline Set for Large Taxpayers to Implement Electronic Invoicing, Tax Authority Announces
- Dominican Republic: Non-Electronic Tax Receipts for Large Nationals Expire December 31, 2025
- Dominican Republic DGII Opens Public Consultation on VAT Withholding Rule Updates
- Dominican Republic Expands E-Invoicing Requirements for Medium-Sized Taxpayers by 2025 Deadline
- Comprehensive Guide to Electronic Issuer Certification in Dominican Republic: Steps and Regulations
