Tax exemption decision reverse in DR
President of the Dominican Republic has ordered a suspension on tax exemption on imports of slot machines. This has been updated in the Revenue Budget and Public Expenditure Law of 2021. However, yesterday he confirmed that no new taxes will come into effect in 2021.
Due to the strong criticism received for the fiscal changes planned for the following year; the president has reversed his decision on this tax emption. He has withdrawn the bill from National Congress, in order to remove the new taxes from writing and the restoration of those that were suspended.
Article 32 of the Bill determined the suspension of the tax exemption on the importation of gambling machines. This measure was expected to replace the one that is established in Article 2 of Law No. 96-88 of 1988.
According to the Dominican Association of Gaming Casinos, the casino sector has 56 venues that generate around 70 million Dominican pesos each month to the treasury.
They also contribute to approximately 200 million to the hotel sector each month.
Abinader explained that the draft budget confirms the Government’s commitment to the continuous lowering of the fiscal deficit. Over time, this will allow to have a balance in public finances and reduce the debt service on tax revenues. This will then guarantee the allocation of public services in priority areas; that can improve the quality of life of the population in a context of fiscal sustainability, â
The Dominican Casinos Association explained that the termination of operations in these venues last March (due to the Covid pandemic) has forced the closure of 20% of the casinos.
However, they also assured that all casinos operating in the country have the necessary safety and hygiene protocols in place. Ready to reopen on August 24, the date set by authorities as part of the economic de-escalation.
David Moniz, president of the Dominican Casino Association affirmed that after almost five months closed, the industry has collectively prepared protocols to the finest detail. Having adapted their venues and adopting innovative health & safety measures to guarantee a safer covid free environment in all of their venues.