The Dominican Republic is no longer simply a vacation destination! It has become a popular expat destination but it’s important to know the tax laws for both the US and the Dominican.
“Whether you’re escaping a cold US winter or building a retirement home in the Dominican Republic, you’ll need to be sure you know the tax laws for both your host country and your home country. Fortunately, we’ve outlined the 7 things you need to know as an expat living in the Dominican Republic.
The national income rates in the Dominican Republic are progressive and range from zero percent up to 25 percent. This includes any income collected from goods or activities, benefits and earnings accrued or collected, and any capital gains.”
In the Dominican Republic, residency is determined by the number of days an individual resides in the country during the fiscal year. Anyone who stays for more than 182 days – not necessarily consecutive days – is considered a resident. After three years of residency, individuals must pay taxes on their worldwide income.”
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To learn more about your expat taxes, download a FREE US tax guide right here!