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Taxpayers in the Dominican Republic that are obligated to file country-by-country reports for fiscal year 2023 must now do so by 31 January 2025.
Taxpayers covered by the Country-by-Country Report (CbCR) obligation will now have until 31 January 2025 to submit the CbCR for fiscal year (FY) 2023. On 31 December 2024, the Tax Administration issued a statement through Notice 26-24 announcing the extension for taxpayers covered by the CbCR obligations for FY 2023.
Background
The provisions established in General Norm 08-2021 apply to taxpayers that are the Ultimate Parent Entity (UPE) or Constituent Entity (CE) of a Multinational Group (MNE Group) with consolidated annual revenue of at least 38.8 billion Dominican pesos (DOP38.8b) (i.e., €750m according to the 2015 exchange rate established in Notice 18-22) and are tax resident in the Dominican Republic.
Implications
Affected UPEs and CEs of MNE Groups should take care to comply with the extended deadline and consult their tax advisors as needed.
For additional information concerning this Alert, please contact:
EY Dominican Republic
Rafael Sayagués
Ludovino Colón
María José Luna
Paul De Haan
Felipe Vargas
Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor
For a full listing of contacts and email addresses, please click on the Tax News Update: Global Edition (GTNU) version of this Alert.