The MasterCard Global Destination Cities Index has ranked Punta Cana at the top of the list for Latin America when it comes to international visitor spending at US$2.4 billion, followed by Sao Paulo and Buenos Aires.
[August 2014]
The MasterCard Global Destination Cities Index has ranked Punta Cana at the top of the list for Latin America when it comes to international visitor spending at US$2.4 billion, followed by Sao Paulo and Buenos Aires.
[August 2014]
The Internal Revenue Service announced today major changes in its offshore voluntary compliance programs, providing new options to help both taxpayers residing overseas and those residing in the United States. The changes are anticipated to provide thousands of people a new avenue to come into compliance with their U.S. tax obligations.
The changes include an expansion of the streamlined filing compliance procedures announced in 2012 and important modifications to the 2012 Offshore Voluntary Disclosure Program (OVDP). The expanded streamlined procedures are intended for U.S. taxpayers whose failure to disclose their offshore assets was non-willful.
“This opens a new pathway for people with offshore assets to come into tax compliance,” said IRS Commissioner John Koskinen. “The new versions of our offshore programs reflect a carefully balanced approach to ensure everyone pays their fair share of taxes owed. Through the changes we are announcing today, we provide additional flexibility in key respects while maintaining the central components of our voluntary programs.”
[July 2014]
According to a Scotiabank report dated June 2014, the Dominican Republic is embarked on a steady mid-term growth path, anticipating that its US $62 billion economy (the largest in the Caribbean and Central American region) will expand at an attractive average growth rate of 4.8% over the next two years, supported by a broad-based contribution from domestic consumption, steady employment growth, increased investment activity, and an external sector boost caused by improved economic conditions in the country’s main trading partners.
Guzman Ariza Attorneys at Law, Cantor & Webb P.A. of the United States and the US Embassy of the Dominican Republic invite to a presentation and cocktail about U.S. citizens and fiscal residents living in the Dominican Republic, Tax and Reporting Obligations, as well as the impact of FATCA and the Dominican legislation.
The speakers will address U.S. Tax compliance work concerning FBARs (Foreign Banks and Financial Accounts) and information about the FATCA (Foreign Account Tax Compliance Act), and shed light on how to strategically structure businesses and investments in Dominican territory, taking into consideration Dominican inheritance rules affecting the estates of expatriates, opportunities and risks of offshore investment vehicles and an overview of tax incentives in the country.
Speakers:
Thursday, 31 July 2014, 6:00 p. m. Gran Salón AB, 6th floor, Hilton Hotel 500, George Washington ave, Santo Domingo, D. N. Reservations are requested by calling 809-255-0980 or writing to info@drlawyer.com.
Cabarete was filled with music and joy last Friday with the Parade Week of The Dream Guzmán Ariza Summer School & Camp. From 10:30 a.m. until 3:30 p.m. children paraded in the streets of Cabarete.
The purpose of the parade was to teach and foster the campers community pride and self-esteem to the display that pride in a banner and through song-filled parade in downtown Cabarete.
This summer camp covers a 4-week educational program for 280 local children between the ages 9 to 15, resident from marginal neighborhoods in Cabarete, such as La Colonia, La Ciénaga and Barrio Blanco. Guzmán Ariza began sponsoring the Guzmán Ariza Summer Camp and School in 2004, where every year poor Dominican children attend a program designed to ensure their educational stability by offering individualized academic tutoring, extracurricular activities, and alternative sources of education that foster life and job skills.
José Ricardo Taveras, Head of the Immigration Department, has reiterated that foreigners who do not comply with the National Legalization Plan face possible deportation.
Mr. Taveras added that the intent is not to identify and deport illegal immigrants, but to offer clear guidelines on how to go about acquiring legal status in the Dominican Republic. However, he stressed that those who do not choose to regularize their status or leave voluntarily will be expelled from the Dominican Republic.
[April 2014]
The Senate of the Dominican Republic approved over 70 changes to the Code of Penal Procedure recently, stripping away many provisions that were considered too lenient toward the accused in criminal proceedings.
Under the bill, still pending enactment by the President, judges may issue search warrants to be executed at night, and order up to 24 months of preventive custody against the accused, instead of the present 12-month limit. A very controversial provision takes away the right of ordinary citizens to file complaints against public officials for corruption.
[March 2014]
Victor Taveras, director of the National Tobacco Institute (Intabaco), announced recently that the Dominican Republic is the world leader in hand-rolled cigar exports. Cigar exports from the Dominican Republic topped US $600 million dollars in 2013. Eleven of the Cigar Aficionado Top 25 Cigars of 2013 were made in the Dominican Republic. .
[March 2014]
President Medina recently signed into law an amendment to Tourism Incentive and Promotion Law # 158-01. Law # 195-13 expands the scope of tax incentives for the tourism industry in the Dominican Republic to all tourist destinations on the island, and extends exemptions under the law from 10 to 15 years, among other benefits.
For more details, please click here.
[March 2014]