The Senate of the Republic approved the project that creates the Special Zone for the Integral Development of Borders and a Stimulation Regime for 30 years, which benefits seven provinces of that demarcation.
The legislative initiative envisages that companies established in the provinces of Pedernales, Independencia, Elías Pina, Dajabón, Monte Cristi, Santiago Rodríguez and Bahoruco benefit from a series of incentives for the development, in all areas, of these demarcations.
The initiative was declared urgent after a motion submitted by Senator Farides Raful, spokesman of the Modern Revolutionary Party (PRM) bloc, a request that was seconded by the spokesman of the People’s Force (FP) bank, Dionis Sánchez.
In the new legislation, which would replace Law 28-01, there are changes that have been agreed by all stakeholders, including the following: “Products, goods and services produced by companies covered by this law may be marketed throughout the country” .
It also states that all industrial, agro-industrial, agricultural, metalworking, metallurgical companies, “as well as all types of companies incorporated in accordance with Dominican law” will enjoy tax exemption for the operations or activities they carry out. ” exclusively in the provided provinces ”.
As for the period of validity of the incentives, they will be valid for 30 years from the entry into force of the law.
In addition, the draft establishes a regime of sanctions for “serious misconduct”, such as when the company resorts to deception, deliberate concealment or malicious action to obtain the incentives set out in this law or which misleadingly diverts the use for which it is intended. used. granted the exemptions “.
Also, the Coordinating Council of the Special Border Development Area will be created, attached to the Presidency of the Republic and composed of representatives of the Ministries of Industry, Trade and SMEs, Finance, Economy, Agriculture; as well as the Executive Director of the Center for Export and Investment in the Dominican Republic; Executive Secretary of the Council and a representative of one of the provinces making up the Special Border Development Area.