The Dominican Republic's Industrial Development and Competitiveness Center (Proindustria) has announced the publication of Law 242-20 on 28 December 2020, which provides for the extension of the tax incentives for qualifying taxpayers under the Proindustria Law. The incentives are extended for 15 years and are primarily available for manufacturers to renew and modernize their activities, including: A 50% reduction in the tax on the transfer of industrialized goods and services (ITBIS) payable on the Import of raw materials, machinery, and capital goods, as well as additional possible compensation for the payment of ITBIS; The option for qualifying taxpayers to choose:...