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Business Reforms in Dominican Republic

= Doing Business reform making it easier to do business. Negative =  Change making it more difficult to do business.

DB2018

Starting a Business: The Dominican Republic reduced the time needed to register a company by streamlining processes at the chamber of commerce.

Getting Electricity: The Dominican Republic improved the reliability of electricity by investing in grid expansion, redesigning network zoning and setting up a power restoration squad to respond to outages.

Paying Taxes: The Dominican Republic made paying taxes costlier by decreasing the inflation rate.

Resolving Insolvency: The Dominican Republic made resolving insolvency easier by adopting a law that introduces a reorganization procedure and facilitates continuation of the debtor’s business during insolvency proceedings. The new law allows creditors greater participation in important decisions during insolvency proceedings.

Labor Market Regulation: The Dominican Republic increased the mandatory length of paid maternity leave.

DB2017

Getting Electricity: The Dominican Republic made getting an electricity connection faster by reducing the time required to approve electrical connection plans.

Paying Taxes: The Dominican Republic made paying taxes less costly by decreasing the corporate income tax rate.

DB2015

Dealing with Construction Permits: The Dominican Republic made dealing with construction permits more costly by increasing the building permit fees.

Getting Credit: The Dominican Republic improved its credit information system by enacting a new law regulating the protection of personal data and the operation of credit reporting institutions.

Protecting Minority Investors: The Dominican Republic strengthened minority investor protections by introducing greater shareholder rights and requirements for greater corporate transparency.

Trading across Borders: The Dominican Republic made trading across borders easier by reducing the number of documents required for exports and imports.

DB2013

Paying Taxes: The Dominican Republic increased the corporate income tax rate.

DB2012

Starting a Business: The Dominican Republic made starting a business easier by eliminating the requirement for a proof of deposit of capital when establishing a new company.

DB2011

Starting a Business: The Dominican Republic made it more difficult to start a business by setting a minimum capital requirement of 100,000 Dominican pesos ($2,855) for its new type of company, sociedad de responsabilidad limitada (limited liability company).

DB2010

Protecting Minority Investors: The Dominican Republic strengthened investor protections through a new company law requiring greater corporate disclosure, director liability and shareholder access to information.

DB2009

Starting a Business: The Dominican Republic made starting a business easier and less costly by establishing an online facility for completing registration formalities and reducing the incorporation taxes.

Registering Property: The Dominican Republic made registering property less costly by reducing and simplifying the taxes collected in property transactions.

Paying Taxes: The Dominican Republic made paying taxes less costly as well as easier for companies by reducing the corporate income tax rate; abolishing several taxes, including the stamp duty; and fully implementing online filing and payment, now used by most taxpayers.

Trading across Borders: The Dominican Republic reduced the time for exporting and importing through improvements in the online portal for customs documents, in risk-based inspections and in the banking sector.

DB2008

Starting a Business: The Dominican Republic reduced the time required to start a business by simplifying name registration and introducing online tax registration.

Registering Property: The Dominican Republic made registering property easier by adopting several laws aimed at streamlining the process.

Paying Taxes: The Dominican Republic made paying taxes more costly for companies by increasing employers’ social security contribution rate.

Trading across Borders: The Dominican Republic made trading across borders easier by reducing the documentation requirements.