Dominican Republic announces VAT Exemption for Services Provided by Investment Funds Administrators

The applicable tax regime for investment funds and its administrators is amended with the issue of General Rule No. 02-2020. The provisions under the rule are as follows:

• Services provided by investment funds administrators are exempt from Value-Added Tax (VAT)
• The tax imposed on the issuance of cheques and electronic transfers will not be levied on withdrawal of assets allocated in investment funds
• Requirements relating to the registry of investment funds have been listed