- Introduction of E-Invoicing: On May 16, 2023, the Dominican Republic enacted Law 32-23, establishing a mandatory electronic invoicing system (Comprobante Fiscal Electrónico or e-CF). This law requires all taxpayers to issue electronic invoices in a standardized XML format, authenticate them with a digital signature, and submit them in real-time to the Tax Authority, enhancing transparency and combating tax evasion.
- Regulatory Framework and Rollout Timeline: The e-invoicing system is supported by a comprehensive legal framework, including multiple regulations from the Dirección General de Impuestos Internos (DGII). The rollout follows a phased approach, starting with large taxpayers by May 18, 2024, followed by medium-sized businesses by November 15, 2025, and small businesses by May 18, 2026. The DGII provides resources and flexibility to assist taxpayers in the transition.
- Incentives and Compliance Requirements: The law includes incentives such as tax credits for early adopters and penalties for non-compliance, reinforcing the commitment to a fully digitized tax environment. All electronic invoices must be validated in real-time, stored for ten years, and comply with specific technical standards, ensuring legal validity and facilitating audits.
Source eezi
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
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