Dominican Republic Tax Agency Posts Law Providing Tax Incentives for Listed Securities Transactions

The Dominican General Directorate of Internal Revenue Aug. 12 posted online Law No. 163-21, providing tax incentives for listed securities transactions. The law includes measures: 1) providing a tax exemption on capital increases for companies issuing shares or other equity-like instruments for three years; 2) providing a withholding tax exemption on the purchase and sale of shares and securities; 3) reducing the capital gains tax to 15 percent for the disposal of shares or other equity-like instruments for three years; 4) providing a tax exemption on the transfer of industrialized goods and services (ITBIS) and real estate transfer taxes for ...