Competitiveness and Industrial Innovation
Create a specialized regulatory and institutional framework, which encourages renewal, innovation and industrial upgrading. All, to achieve greater diversification of the Dominican productive apparatus, and industrial chain through the promotion of districts and industrial parks and links to international markets.
Beneficiaries: Manufacturing, composed of organizations dedicated to transforming raw materials into finished products or semi through physical transformation and / or chemical materials and components in different products, by machine or by hand in a factory, then to sell them wholesale or retail.
The industries qualified by the Center for Industrial Development and Competitiveness (PROINDUSTRIA) under the regime of the Act; industries can enjoy the following benefits:
• Exemption Transfer of Industrialized Goods and Services Tax (ITBIS) applicable in customs for the import of raw materials, industrial machinery and capital goods detailed in Article 24 of the Tax Reform Act 557-05 industries of December 13, 2005, and other capital goods and raw materials which enjoy a rate of zero percent (0%).
• Reimbursement to national or foreign legal persons qualified by PROINDUSTRIA exporting to third markets: i) Tax on the Transfer of Industrialized Goods and Services (ITBIS); ii) Selective Telecommunications Consumption; iii) Selective Insurance Consumption; iv) the Selective fuels Consumption, and v) tax on the issuance of checks.
• Exemption from the obligation to withhold income tax (ISR) for foreign natural or legal persons who can provide professional services related to development projects of products, materials and production processes, research and technology development, staff training, innovation, research, training and environmental protection, as well as all kinds of consulting services and / or technical advice.
• Over a period of five (5) years from the entry into force of the Law (until 2013), industries that adopt the system of the law will be able to depreciate rapidly, halving the times currently set by the Directorate General of Internal Revenue, the value of machinery, equipment and acquired technology.
Similarly, they can deduct 50% of the net taxable income of the fiscal year last year from investments in the purchase of machinery, equipment and technology.
Agency management system benefits: Development and Industrial Competitiveness Center (PROINDUSTRIA).