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Inrternal revenue issues general rule 02-2014 on deductions of interests<\/SPAN><\/STRONG> T<\/SPAN>he Directorate General of the Internal Revenue issued today General Rule 02-14 on Deduction of Interest Costs to regulate how companies will deduct from their Income Tax (ISR \u2013 Impuesto Sobre la Renta) the interest derived from debts and the costs resulting from their acquisition, renewal or cancellation.<\/P> The measure, which goes into effect today nationwide, indicates that the interests from debts and the costs thereof shall be regarded as allowed tax deductions for their ISR only when the withholdings are properly implemented and paid under the provisions of Article 287 of the Tax Code.<\/P> It is recalled that Law 253-12 for the Strengthening of the State\u2019s Tax Revenue Capacity for Fiscal Sustainability and Sustainable Development, modified the deductions that are allowed as interests referred to in Article 287 of the Code on Tax Allowances, which provides that “to determine the net taxable income, the costs necessarily incurred to establish it, to maintain it and to keep it, shall be deducted from the gross income, in the manner provided for under this title and under the rules for the application of this tax.”<\/P> Thus, it is considered as included in the deductible expenses from the income derived from business activities, the interests from debts and the costs incurred in the establishment, renewal or cancellation thereof, provided that they are directly linked to the business and are related to the acquisition, maintenance and\/or exploitation of goods that are producers of taxable income. The Rule issued today provides the mechanisms for the implementation of such deductions.<\/P> This Rule is located in the section: .<\/P> General Rules on Income Tax (ISR)<\/A><\/P> <\/P><\/TD><\/TD><\/TR><\/TBODY><\/TABLE><\/p>","protected":false},"excerpt":{"rendered":" Inrternal revenue issues general rule 02-2014 on deductions of interestsSanto Domingo, 05\/01\/2014 The Directorate General of the Internal Revenue issued today General Rule 02-14 on Deduction of Interest Costs to regulate how companies will deduct from their Income Tax (ISR \u2013 Impuesto Sobre la Renta) the interest derived from debts and the costs resulting from … Continue reading “Inrternal revenue issues general rule 02-2014 on deductions of interests”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-6935","post","type-post","status-publish","format-standard","hentry","category-noticias"],"_links":{"self":[{"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/posts\/6935"}],"collection":[{"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/comments?post=6935"}],"version-history":[{"count":0,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/posts\/6935\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/media?parent=6935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/categories?post=6935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/tags?post=6935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Santo Domingo, 05\/01\/2014 <\/P>
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