Country-by-Country Reporting – Compilation of 2023 Peer Review Reports

Dominican Republic

Overview of CbC reporting requirements

First reporting fiscal year: Commencing on or after 1 January 2022

Consolidated group revenue threshold: Dominican Peso $38,800,000,000

Filing deadline: 12 months following the end of the reporting fiscal year

Local filing required: Yes

Surrogate parent entity filing permitted: Yes

First review of domestic legal framework: 2021/2022

Summary of recommendations

 

Area of implementation	Recommendations for improvement
Domestic legal and administrative framework	It is recommended that Dominican Republic take steps to ensure that local filing only occurs in the circumstances permitted under the minimum standard.
Exchange of information framework	It is recommended that Dominican Republic take steps to have qualifying competent authority agreements in effect with jurisdictions of the Inclusive Framework that meet the confidentiality, consistency and appropriate use conditions and with which the Dominican Republic has an international exchange of information agreement in effect that allows for the automatic exchange of tax information.
Appropriate use	None.

The domestic legal and administrative framework

It is recommended that Dominican Republic ensure that local filing only occurs in the circumstances permitted under the minimum standard. This recommendation remains in place since the 2021/2022 peer review.

The exchange of information framework

The Dominican Republic has no bilateral relationships in place for the exchange of CbC reports nor processes to ensure that the exchange of information is conducted in a manner consistent with the terms of reference relating to the exchange of information framework.

It is recommended that the Dominican Republic take steps to have qualifying competent authority agreements in effect with jurisdictions of the Inclusive Framework that meet the confidentiality, consistency and appropriate use conditions and with which the Dominican Republic has an international exchange of information agreement in effect that allows for the automatic exchange of tax information. This recommendation remains in place since the 2019/2020 peer review.

The Dominican Republic’s 2019/2020 peer review recommended that the Dominican Republic take steps to implement the necessary processes or written procedures to ensure that the exchange of information is conducted in a manner consistent with the terms of reference relating to the exchange of information framework. These processes are now in place and the recommendation is removed.

Appropriate use of CbC reports

In the 2019/2020 peer review it was recommended that the Dominican Republic take steps to ensure that the appropriate use condition is met ahead of the first exchanges of information. The Dominican Republic now has controls in place to ensure the appropriate use of CbC reports and the recommendation is removed.