Beneficiaries of the Educational Expenses Deduction Law Receive 230 Million in 2011

Beneficiaries of the Educational Expenses Deduction Law Receive 230 Million in 2011
Santo Domingo, Dominican Republic, May 26, 2012

Glrowth in 2011 was 21.1% while the number of beneficiaries exceeded 14 thousand.

The Directorate General of the Internal Revenue (DGII for its acronym in Spanish) informed that the benefits of the Educational Expenses Deduction Law that had been paid by individuals through their income taxesincreased by 21.1% in 2011 when compared with the year 2010, while the number of beneficiaries rose 7.3%.

The tax refund that taxpayers received in the form of reimbursement or compensation went from RD $ 190.1 million in 2010 to RD $ 230.8 million in 2011, which represented a significant increase of 21.1%. Likewise, the number of taxpayers increased by 7.3%, from 13,676 individuals in 2010 to 14,679 in 2011.

The amount invested in education that was reported by the total number of respondents reached RD $ 1,692.1 million in 2011, up from RD $ 149.3 million in 2010, which represents a growth of 9.7%. Of these, RD $ 1,585.2 million were approved for those employees and professionals who met the requirements of the law set for the year 2011.

The benefitsobtained bythe taxpayers in relation to the declared total amount of the investment in education accounted for 13.6% for fiscal year 2011.

These results demonstrate the successful implementation of the Law by the Directorate General of the Internal Revenue, and the citizen’s validation of the high degree of credibility they have in the devolution process, the transparency in handling it, and the timely information that is provided to the population. To this end, the DGII createda process that allows taxpayers to file theirtotal deductions of expenses through the Virtual Office, without having to go to the DGIIphysical offices to do so.

In 2011 the reported spending on education by 1,046 schools increased by 6.6% over the previous year, while the process seen through the reports by provinces in which the fiscal residence is located revealed that 92% of the expenditures on education is concentrated in the National District, Santo Domingo and Santiago, with 66.38%, 16.37% and 9.26% respectively.

MAY 28, 2012. –
DEPARTMENT OF PUBLIC RELATIONS
GENERAL DIRECTORATE OF THE INTERNAL REVENUE