Quote:
Originally Posted by MikeFisher
so the transformation process can get started right now? Mike
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No.
Mike,Rubio, the 4-month tax exemption on capital increases due to
transformations from one corporate structure to another (i.e., SA to SRL or SA to EIRL) comes into effect once the new law enters into force in June 19th, not April 1st (see Art. 13 of DGII Norm 05-2009). Until June 19th, you will not be able to
transform or register new SRL's, EIRL's or SA's; you can incorporate an S.A. right now under the old law, but of course you'll be forced to comply with the new law once it enters into force.
The 4-month capital increase tax exemption does come into effect on April 1st for current S.A.'s that wish to stay under that same corporate structure come June 19. These particular S.A.'s were given until June 11th to undergo a process (called "proceso de
adecuación") that will adapt them to the new law requirements for S.A.'s, which may include, a capital increase to meet the minimum RD$30,000,000 authorized capital requirement.
Alfredo