Dominican Republic Signs a 30% Tax on Its Biggest Firms Into Law

Key Facts

—The law. President Luis Abinader signed a tax overhaul, Law 30-26, on June 18.

—The headline rate. The biggest companies will pay thirty percent, up from twenty-seven, for three years.

—Who pays. It hits firms with revenue above a billion pesos, roughly seventeen million dollars, just under one percent of companies.

—Foreign tech. A new fifteen percent levy applies to payments abroad for software, online ads and data hosting.