Dominican Republic (DO)

Jurisdiction Overview

IDQuestionAnswer
157 *Does the domestic administration have sufficient powers to obtain and provide banking information on request? Yes without qualifications.
 Data Date: 2019

Notes

 
In 2016 the Global Forum wrote that the tax authority (DGII) "was able to request banking information directly by issuing an official request letter to the Banking Superintendent who proceeded to access the information from the banks and provide it to the DGII. However, in June 2015, a judicial procedure was implemented whereby the DGII must now first obtain a court order from the office of the Attorney-General in order to proceed to request banking information from the Banking Superintendent (...). By reason of the number of steps and the timelines that are legally prescribed in order to access banking information directly this process can take 6-12 months and in the event that information was urgently needed there is no exception to accessing banking information without a court order" (GF 2016: 66, 70). The Global Forum also reported that in practice "it generally took between 180 days and one year to provide this information to the treaty partner and this was prior to the introduction of the additional court order procedure" (ibid.: 72).
 
In 2019, the Global Forum reported that "The Dominican Republic modified its legal framework so that the competent authority can request banking information directly from financial institutions, without prior authorisation of the financial regulator or a court order. As these amendments were recently enacted, their effective implementation could not be fully assessed." (GF 2019: 62) and that the Dominican Republic was largely compliant (Ibid.). "The new provisions have not been used for EOI purposes during the review period, but the DGII successfully requested and received banking information directly from financial institutions in about 50 domestic cases and in five EOI cases after the review period." (Ibid.: 61-62). Moreover, "Financial institutions have 10 working days to respond to a request for information from the DGII." (Ibid.: 64).

Sources

GF 2016: 66, 70, 72
 
GF 2019: 61, 62, 64