Advocacy for New Tax Collection Method by Former President of Dominican Republic’s Institute of Accountants

Santo Domingo.- During the International Seminar “Labor and Tax Business Perspectives 2024”, organized by Tax & Labor, Bacilio Sánchez, representative of the tax area for the Dominican Republic and former president of the Institute of Accountants of the Dominican Republic, addressed the complexities of the country’s tax system.

Sánchez expressed concern about the tax collection system, particularly the high arrears contained in Title 1 of the tax code, which have made some debts almost impossible to pay.

Sánchez advocated for the prompt approval of modifications to Title I of the Tax Code, which is currently under consideration in Congress.

These proposed changes are intended to streamline collection processes and establish consistent procedures in the relationship between the treasury and taxpayers.

He also encouraged taxpayers to take advantage of the payment facilities provided by Law 51-23, which grants prescription for old debts, and to prepare for the implementation of the Electronic Invoice Law, which will modernize the tax system starting in January 2024.

He stressed the need to reform the tax collection system to improve efficiency and equity for all taxpayers.

Sánchez believes that the introduction of electronic invoicing will promote transparency and traceability in business transactions, reduce tax evasion and improve government revenue collection.

The seminar, titled “Business Perception: Work and Taxes 2024”, brought together prominent figures from the legal and tax field, serving as a platform to discuss current trends and challenges in tax and business management in the Dominican Republic.

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