On 22 June 2022, the Directorate General of Internal Revenue (DGII) published a Notice (No. 18-22) clarifying Country-by-Country Reporting (CbC) for Multinational Enterprises (MNEs). The notice includes the following procedures:
- Submit CbC reports under Action 13 of the BEPS (Base Erosion and Profit Shifting) project related to currency fluctuations;
- Require MNEs to submit CbC reports based on a threshold of 750 million euros (US$787 million) or equivalent in Dominican pesos based on January 2015 exchange rates if the ultimate parent is a country with a quasi-equivalent threshold reported; and
- If the group reports and is subject to the same threshold in its own jurisdiction, CbC reporting is not required in the Dominican Republic.
The procedures are applicable from the fiscal year 2022 onwards.
