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Category: News

Legal 500 Ranks Guzmán Ariza as a Top Tier Firm

The Legal 500 Latin America 2014 survey has ranked Guzmán Ariza as a Top Tier Firm in real estate and tourism in the Dominican Republic, and has chosen name partner Fabio Guzmán Ariza as a “Leading Lawyer” in the field. The firm also received recommendations in Corporate and Finance, and Dispute Resolution.

Ten Guzmán Ariza lawyers have also been recommended in The Legal 500 Latin America editorial: In corporate and finance, Fabio Guzmán Ariza, Christoph Sieger, Alberto Reyes, Alfredo Guzmán and Fabio Guzmán. In dispute resolution, Fabio Guzmán Ariza, Rhadaisis Espinal, Julio Brea Guzmán, Cesar Calderón and Johanna de Láncer. In real estate and tourism, Fabio Guzmán Ariza, Julio Brea Guzmán, Christoph Sieger, César Calderón and Anabel Rizik.

[September 2014]

GDP up 7.2% in First Half of 2014

According to the latest report by the Central Bank of the Dominican Republic, the Dominican economy grew 7.2% in the first half of the year.

 

IRS Announces Changes in Offshore Voluntary Compliance Programs

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]

Scotiabank Anticipates Steady Growth for Dominican Economy

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.

Guzmán Ariza Summer School & Camp Parade

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.

Illegal Immigrants Will be Deported

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]

Code of Penal Procedure Amended

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]