[quote=Raymi J Mejia;634028]B]Fines are up to RD$19,500 per trimester, 10% Late charge for the first month and 4% for each additonal month and also an interest of 1.73% per month.
Example:
If you have not paid the itbis for february, let's says you had to paid RD$10,000., the penalties and charges will be:
Penalties/fine of RD$19,500
Late Charges: 10% for march, 4% for april and 4% for may (till 5/20) = 18%
Interests: 1.73% per month = 5.19%
grand total:
10,000. Itbis
1,800. Charges for late presentation (18%)
573. Delay Interest (5.73%)
19,500. Fine
31,873. Total Tax and penalties
Deductions for the itbis is basicly the itbis charge to your company in the diferent services/acquisitions/expenses you receive/have.
For this to be valid all of the invoices/bills received must have the NCF (Factura Con valor/Credito Fiscal) and they have to be addresed to your company, including your RNC and the supplier's. RNC stands for Registro Nacional de Contribuyentes = Tax identification Number.
Thank you for your clear information, we have now found a accountant that is helping us. Hopefullly all will be sorted soon, i wish i had checked my post sooner and contacted you, however i will keep your details should the need arise. Thank you
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