Live in Dominican Republic
Money & Tax
The official currency of the Dominican Republic is the Dominican Peso, which fluctuates freely against the US dollar. The currency comes in $50, $100, $200, $500, $1000, and $2000 peso notes and 1, 5, 10, and 25 cent coins. They accept US dollars in most places as well as other major foreign currencies, but it is recommended to convert to Dominican pesos.
Dominican tax law is primarily territorial and is governed by a Tax Code administer and collected by the Dominican Internal Revenue Agency (DGII). There are six types of taxes that affect businesses in the Dominican Republic: income tax, capital gains tax, goods and services tax, excise tax, real estate tax, and tax on company assets. Both companies and individuals are required to pay taxes on their net taxable income at a flat rate of 27%. Learn more about this under the Invest & Innovate tab.