close
Share with your friends

Dominican Republic: New mining legislation proposed, tax incentives

Dominican Republic: New mining legislation proposed

A bill—recently introduced in the Dominican Senate—would provide for new mining legislative rules, by amending the current mining law as well as updating certain related rules.

1000

Related content

From a fiscal and tax perspective, the bill would provide for a grant of certain incentives, such as an exemption from customs duties arising from the import of equipment and machinery, as well as a tax exemption on dividend distributions or similar payments made abroad. Additionally, the bill would introduce a fiscal stability regime that is intended to provide investment security for mining projects during a specified period.

The bill would update the definition of a “mining patent” and would introduce non-metallic mining into the concession system.  Moreover, the legislation (as proposed) would implement a warranty system related to the benefits generated by mining operations and concerning their environmental impact.   

The requirements and conditions for tax benefits and incentives under the proposed changes to the mining law regime may be subject to changes during the legislative process and debates on the bill in the Senate and lower chamber of the Dominican Republic.



Read a September 2019 report [PDF 204 KB] prepared by the KPMG member firm in the Dominican Republic

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal