President Leonel Fernandez recently enacted the much awaited Renewable Energy Bill No. 57-07 regulations. According to the local press, more than RD$3 billion pesos will soon be invested in the renewable energy market of the Dominican Republicwho attracted by incentives such as:
1- 100% exemption on import taxes for equipment and machinery to be used for renewable energy production.
1- 100% exemption on import taxes for equipment and machinery to be used for renewable energy production.
2- 100% exemption on the value-added tax (ITBIS).
3- 100% exemption on income tax for ten years.
4- Reduction to 5% of the tax on foreign financed interest payments.
If you are interested in knowing more about how your company might benefit by investing in renewable energies in the Dominican republic please contact us at info@drlawyer.com or visit our website www.drlawyer.com
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