Accounting in Dominican Republic: standards, taxes and GoSoft
Accounting guide for Dominican Republic: General Directorate of Internal Taxes (DGII), ITBIS 18 %, accounting framework, books, e-invoicing, tax returns and how to set up GoSoft.
Key facts
| Item | Detail |
|---|---|
| Tax authority | General Directorate of Internal Taxes (DGII) |
| Currency | DOP · Dominican peso |
| Tax ID | RNC |
| Consumption tax | ITBIS · 18 % |
| Income tax | Corporate income tax of 27 %, with monthly advances. |
| Fiscal year | Calendar year or the other year-ends allowed by DGII (March, June or September). |
| E-invoicing | Electronic Tax Receipts (e-CF), phased in progressively; previously receipts with NCF. |
Accounting framework
IFRS and IFRS for SMEs, adopted by ICPARD.
Chart of accounts
There is no mandatory chart of accounts: the company defines it according to its framework. GoSoft ships a base chart you can adapt.
Financial statements
In Dominican Republic the four statements are presented with these names (GoSoft uses them in its reports and PDFs):
- Statement of financial position
- Income statement
- Statement of changes in equity
- Statement of cash flows
Mandatory books and records
Purchase (606) and sales (607) submission formats with receipt details, besides the accounting books.
Periodic tax returns
Monthly ITBIS (IT-1), monthly withholdings (IR-17), advances and the annual income tax return.
What you need to know
- Companies withhold 30 % of ITBIS on services and 100 % in some cases (for example, on individuals).
Taxes and withholdings in GoSoft
These are the reference taxes and withholdings GoSoft loads for Dominican Republic. You adjust them in Taxes and withholdings (rate, minimum base and ledger account).
| Code | Name | Type | Applies to | Rate |
|---|---|---|---|---|
ITBIS18 | ITBIS 18% | VAT | sales and purchases | 18 % |
RET-ISR | ISR withholding · services by individuals | Income | payments to suppliers (withholding) | 10 % |
RET-ITBIS-30 | ITBIS withholding · services | VAT | payments to suppliers (withholding) | 30 % |
RET-ITBIS-100 | ITBIS withholding · individuals | VAT | payments to suppliers (withholding) | 100 % |
How to set up GoSoft for Dominican Republic
In My company, choose the country Dominican Republic and the currency DOP.
When you log in again, GoSoft shows Updating the accounting setup for Dominican Republic: it codes the chart of accounts, loads the country's taxes and checks the settings. It happens only once.
In Chart of accounts → Options, review the coding and download the chart as a PDF for your accountant to approve.
In Financial reports → Taxes and withholdings, confirm the rates and choose the ledger account for each tax.
Record activity (manually or from the modules) and use Tax returns to prepare each period's drafts.
Rates and deadlines change. Before filing, confirm what is current at General Directorate of Internal Taxes (DGII) and with your accountant.