PRINCIPAL TAXES THAT ARE PAID ON THE IMPORTATION OF GOODS INTO THE DOMINICAN REPUBLIC
TAX, is basic tax that is charged to almost all items arriving in the Dominican Republic by way of customs from any foreign country. It has a fixed value of 20% on the value of cost and freight (CIF) of the said article. There are some goods exempt from this tax, for more information contact with us and taste will expand. THIS IS THE MAIN TAX THAT IS PAID ON THE IMPORTATION OF GOODS TO THE DOMINICAN REPUBLIC.
Itebis, is the transfer of goods and services tax, also is charged this tax on most of the items that arrive in the country from other countries, it has a fixed value of 18%. Below is an explanatory example to demonstrate how it is calculated.
Let's suppose that we take a gas stove that we have bought for $ 200.00
In this case we assume a freight cost of $100
The tax is 20% of the CIF, or 20% of (200 +100) = 20% of $ 300 equals 60.00
To calculate the ITEBIS, the amount of the charge is in addition to the above CIF and this total is applied to 18%:
In our example, the ITEBIS cost would be :
CIF + Tax Value multiplied by 18%
(300+60)x 18%=64.80
The ITEBIS cost amount, would be $64.80
The total value of import tax in this case is $ 60.00 for Tax, plus $ 64.80 ITEBIS, making a total of $ 124.80
Selective. Is a variable tax that applies to goods that are considered luxurious (that are not necessities), there are a list of articles in this category and there are different levels of needs and accordingly the tax can vary from 10% up to 60% approximately.
To give a simple example, consider the case of a window air conditioner that costs the same as the range of the previous example, the tax values and ITEBIS would be calculated same as above and have them above values, since we are assuming they have the same selling price, range and air conditioning.
In this case would have to continue calculating the Selective tax which is around 15% for air conditioning, then the CIF amount added to the Tax and the ITEBIS result is multiplied by 15% to obtain the value of the Selective tax .
Take a look: (300+60+64.80)x15%= 424.80x15%=63.72
the total tax to be paid for a window air conditioner would be: 60+64.80+63.72=188.52
In this case, as you can see, the combined tax is 94% of the original cost of air conditioning.
For more information, contact us at: info@monteroshippingmiami.net
PRINCIPAL TAXES THAT ARE PAID ON THE IMPORTATION OF GOODS INTO THE DOMINICAN REPUBLIC
TAX, is basic tax that is charged to almost all items arriving in the Dominican Republic by way of customs from any foreign country. It has a fixed value of 20% on the value of cost and freight (CIF) of the said article. There are some goods exempt from this tax, for more information contact with us and taste will expand. THIS IS THE MAIN TAX THAT IS PAID ON THE IMPORTATION OF GOODS TO THE DOMINICAN REPUBLIC.
Itebis, is the transfer of goods and services tax, also is charged this tax on most of the items that arrive in the country from other countries, it has a fixed value of 18%. Below is an explanatory example to demonstrate how it is calculated.
Let's suppose that we take a gas stove that we have bought for $ 200.00
In this case we assume a freight cost of $100
The tax is 20% of the CIF, or 20% of (200 +100) = 20% of $ 300 equals 60.00
To calculate the ITEBIS, the amount of the charge is in addition to the above CIF and this total is applied to 18%:
In our example, the ITEBIS cost would be :
CIF + Tax Value multiplied by 18%
(300+60)x 18%=64.80
The ITEBIS cost amount, would be $64.80
The total value of import tax in this case is $ 60.00 for Tax, plus $ 64.80 ITEBIS, making a total of $ 124.80
Selective. Is a variable tax that applies to goods that are considered luxurious (that are not necessities), there are a list of articles in this category and there are different levels of needs and accordingly the tax can vary from 10% up to 60% approximately.
To give a simple example, consider the case of a window air conditioner that costs the same as the range of the previous example, the tax values and ITEBIS would be calculated same as above and have them above values, since we are assuming they have the same selling price, range and air conditioning.
In this case would have to continue calculating the Selective tax which is around 15% for air conditioning, then the CIF amount added to the Tax and the ITEBIS result is multiplied by 15% to obtain the value of the Selective tax .
Take a look: (300+60+64.80)x15%= 424.80x15%=63.72
the total tax to be paid for a window air conditioner would be: 60+64.80+63.72=188.52
In this case, as you can see, the combined tax is 94% of the original cost of air conditioning.
For more information, contact us at: info@monteroshippingmiami.net