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October 8, 2024
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Tax reform: label would go from RD$1,500 to RD$3,000; up to 5 years, RD$6,000

Reforma fiscal: marbete pasaría de RD$1,500 a RD$3,000; de hasta 5 años, RD$6,000

Dominicans would pay 3 thousand pesos as the cost of the tag for vehicles whose manufacture is more than five years old; while for those who are up to five years old, the payment would be 6 thousand pesos.

This was stated by the Minister of Finance, José Manuel “Jochi” Vicente, during the presentation of the government’s proposals for the tax reformwhich will be submitted to the National Congress for study and possible approval.

The new taxes proposed by the government were detailed during La Semanal con la Prensa, headed by the president Luis Abinaderwhich takes place every Monday from the National Palace.

So far, the cost of the tag remains at 1,500 pesos for vehicles with years of manufacture until 2018. Meanwhile, the payment for those that have been since 2019 pays 3 thousand pesos.

Vicente noted that with the proposals for tax reform “It is not an improvisation”and have been consulted with all sectors of the national economy.

More details soon…

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