Agreement increases Spanish investment in DR

The application of the agreement to avoid double taxation between Spain and the Dominican Republic has increased Spanish investment in the country.

The head of the International Taxation Department of the Directorate General of Internal Taxes (DGII), Chaly Cruz, maintained that from 2014 to date there has been an increase in Spanish investment in the country.

She recalled that regulation 11-2022, which established a new procedure for Spanish taxpayers to benefit from the aforementioned agreement, is undergoing some modifications and will come into effect next October.

Cruz spoke at the conference on “Practical aspects in the implementation of the agreement between Spain and the Dominican Republic to avoid double taxation”, organized by the Spanish Chamber of Commerce in the Dominican Republic and Russin, Vecchi & Heredia Bonetti.

David Heredia Tapia, managing partner in Estudio Jurídico de Heredia Tapia & Asociados, highlighted the scope of application of the agreement to avoid double taxation with some examples.

Meanwhile, the president of the Spanish Chamber of Commerce in the Dominican Republic, Paco Perez, said that yesterday’s activity sought how to apply the agreement in a practical way to 400 companies established in the country.

He explained that the tax agencies of Spain and the Dominican Republic have agreed on its application.

He emphasized that Spain is the third commercial partner of the country and has the aspiration of becoming the first. He specified that in the tourism sector, Spain is the first commercial partner of the Dominican Republic, since it has 68 percent of the hotel rooms of the country.

Source: Hoy.com

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