The Dominican Republic’s Directorate General of Internal Revenue (DGII) has released Resolution No. DDG-AR1-2024-00005, establishing key financial adjustments for the fiscal year ending June 2024. This resolution introduces a general inflation adjustment multiplier of 1.0346 and sets the official exchange rates for the period at DOP 58.8944 per USD and DOP 63.0465 per EUR. It also provides an updated table for inflation adjustment multipliers on capital assets from 1980 to 2024.
Inflation is the gradual decline in purchasing power, evident through a general increase in the prices of goods and services over time.
The inflation rate is determined by calculating the average annual price increase of a selected basket of goods and services. High inflation indicates a rapid rise in prices, whereas low inflation signifies a slower pace of price growth. In contrast, deflation occurs when prices fall, leading to an increase in purchasing power.
Notably, this resolution does not include an updated list of jurisdictions classified as preferential tax regimes or tax havens, meaning the list outlined in Resolution No. DDG-AR1-2024-00001 for December 2024 remains applicable.
These periodic updates are essential for businesses and individuals to accurately align their financial practices with current DGII regulations.
