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

Investment Funds - VAT -Taxscan

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