Dominican Republic (DO)

Jurisdiction Overview

188 *Is there an obligation to keep accounting data? Unknown
 Data Date: 2019


In Dominican Republic, all relevant entities and arrangements are required to maintain proper accounts including underlying documentation (GF 2016: 54,56). However, in relation to enforcement, the Global Forum 2016 report concluded: "in those cases where entities have not renewed their business certificate with the Mercantile Registrar or proceeded to register with the DGII, the Dominican Republic does not have an effective oversight programme in place to ensure compliance by those entities with the obligations to maintain accounting information" (ibid.: 59). In 2019, according to the Global Forum, some enforcement problems remained: " Since the 2016 Report, the Dominican Republic took several measures to address this gap, notably by improving crosschecking mechanisms and the interconnection between the Mercantile Registry and the Register of Taxpayers, and by introducing new sanctions for legal entities and arrangements which failed to renew their business certificate with the Mercantile Registry (see A.1.1). [...] However, [...] there is a risk that companies which fail to comply with their reporting obligations but remain in legal existence might not have accounting records available " (GF 2019: 57). Therefore, it is not clear if the requirement to maintain accounts including underlying documentation, is sufficient.

GF 2019: 57, GF 2016: 54, 56