By Iris Villafaña , Heiddy Moronta and Paola Reinoso Terrorist financing (TF) is any form of economic action, aid or mediation that provides financial support for the activities of terrorist elements or groups. The increased focus on the importance of combating terrorist financing comes in the aftermath of the attacks of 11 September 2001 and...
By: Magdalena Almonte and Aidaluz Pimentel. Summary: Eco-innovation, or innovation aimed at reducing the impact on the environment, is a global priority today in order to mitigate the harmful effects caused by industry, with industrial property playing a major role in encouraging the creation of sustainable inventions, disseminating available technology, and ultimately providing a greater...
By judgment no. 2381/2021 dated 31/08/2021, the Supreme Court of Justice established that instant messaging via WhatsApp or any other digital platform, such as Twitter, Teams, Zoom, Telegram, among others, allows users to have free communication, due to the fact that they can send written messages, voice notes, video recordings, images, contacts, etc. It is...
With the support of the Embassy of the Dominican Republic in France, the law firm Ulises Cabrera launches a multimedia series in Spanish and French on tax incentives in the Dominican Republic. The series consists of four videos in Spanish and French highlighting the main fiscal incentives in the Dominican Republic that facilitate foreign investment...
We invite you to watch the series of audiovisuals where we talk in detail about tax incentive laws, together with the Ambassador of the Dominican Republic in France, Rosa Hernández de Grullón. In these videos, our lawyers José Cruz Campillo, Magdalena Almonte, Mónica Villafaña and Heiddy Moronta talk about laws 8-90 on the Promotion of...
General Regulation 05-2021 establishes the use of digital documents and data messages in the Virtual Office (OFV) of the DGII in the tax procedures provided for in Law 11-92. This regulation amends Articles 2, 7, and 8 of General Standard 05-2014. on Telematic Means of the DGII, dated 14 July 2014. The main objective of...
For regulated entities, implementing and adopting a compliance programme is an obligation and not an option. Article 34 of Law 155-17 for the prevention of money laundering and terrorist financing establishes this. Any of the regulated entities found to be in breach of the above would face administrative sanctions ranging from RD$300,000.00 to RD$4,000,000.00, as...
By Mónica Villafaña, partner and head of the Business and Corporate Division. This Wednesday, 14 July, the National Wage Committee has announced through its Resolution 1-2021 a wage adjustment authorising a new minimum wage for non-sectorised enterprises. The increase is effective from 16 July 2021. A non-sectorised company is considered to be any company that...
Rule 1 of 4 The Directorate General of Internal Taxes (DGII) has issued General Rule No. 06-2021 on Tax Receipts. In order to simplify administrative procedures and reduce the waiting time for obtaining tax receipts, this regulation reduces the deadline from 10 to 5 working days for the issuance of tax receipts from the...
According to the Real Academia de la Lengua Española or RAE (Royal Academy of the Spanish Language), “risk” is the contingency or proximity of damage. It could also be defined as a measure of the magnitude of damage in a given situation. In the area of Prevention of Money Laundering and Terrorist Financing (PLAFT), risk...
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