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Dominican Republic: New “tax receipt” rules effective May 2018

Dominican Republic: New “tax receipt” rules

New rules concerning the issuance and use of the “tax receipt” (Numero de Contribuyente Fiscal—NCF) are effective 1 May 2018.

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In Dominican Republic, all companies or business entities charging any sort of taxes on sales must issue tax invoices that include an official and unique tax number assigned by the tax authorities to every invoice—that is, the NCF.

Beginning 1 May 2018, there are revised standards for the NCF system, and taxpayers need to be fully compliant for the tax authority to approve new NCFs under the revised standards. Applications for new NCFs will be evaluated and authorized only after the taxpayer’s commercial activity, volume of operations, and risk profile have been evaluated. Taxpayers then will need to update their accounting systems to accommodate the new NCF numbering sequencing and types of NCFs associated with the corresponding invoicing. 

Any authorized NCF sequences will be valid for a period no longer than two calendar years.

 

Read a March 2018 report [PDF 412 KB] prepared by the KPMG member firm in the Dominican Republic

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