Advise on Ley 28-01 (Exemption from Taxes )

[Texas Bill]

Sr. Guzman.

I have a business just starting in Manzanillo, on the Northwest border with Haiti.
The nature of the company is that of a corporation and will eventually have several companies operating under it's umbrella.
I was informed by a Dominican businessman in Monte Cristi that the corporation would enjoy a 20 year moritorium from all taxes under Ley 28-01.
Is this true and, if so, what procedures must the corporation take to establish the exemptions.
Also, does exemption under the law also exempt import duties for equipment to be used at the Manzanillo location?

Billy Adams AKA Texas Bill

[Fabio J. Guzman]

Yes, it is true. Law 28-01 created even greater incentives than the ones existing in standard "zona francas" for businesses willing to establish themselves close to the Haitian border. Import duties for equipment are exempted.

[Texas Bill]

Sr. Guzman;

Thank you SO MUCH.
I shall act accordingly.
I presume that the stipulation of Importing under Ley 28-01 must appear on the shipping/customs documentations.

Thank you again.

Billy Adams
AKA Texas Bill