income taxes

i dont know whether this question has been covered before but can someone explain the situation of income tax.i am considering buying a small self catering complex.(probably amount 5 bedrooms).....would I be right in saying that all my income would be taxed at 30% or is there any personal tax relief as in the uk where you are allowed to earn a certain amount before tax and is it taxed on gross or net profits................i suppose i shouldnt really be let out of the country

[Fabio J. Guzman]

Corporations now pay a flat tax of 30% of net income.

For individuals, the first RD$276,422 pesos (approx. US$8250) in income are exempt, then the rate goes to 15%, 20%, 25% and finally 30% for income of RD$900,000 pesos or more (approx. US$26,865).

[Conchman]

mind you, not many people really pay this. At least around here. Its like traffic lights here, basically a suggestion. Just don't get caught.

if you buy a property as a company to avoid the inherritance laws...does this mean you have to pay corporate income tax or is that just for large companies....sorry to ask stupid questions

[iluvdr]

So after your company pays 30% taxes and remit this amount to yourself the shareholder in dividends. .. will you still pay taxes on those dividends as an income? If so what is the taxe rate on dividends?

Thanks in advance...

[iluvdr]

Common guys...Is my question so hard, that no one out there knows the correct answer???

[anitaemma]

What happens if we sell all our shares of the corporation found for to buy the land. Value for shares ? Value of the land or only of the capital of corporation ? Which percentage ?

[Fabio J. Guzman]

There is no double taxation on dividends. The way it works the corporation withholds 30% of the dividend payout to the shareholder.