This spring, Ragh & Associates shares insights on Dominican Republic tax and labour reforms, its strong market presence and alliances, the use of AI‑driven audit technology to protect client data, and the importance of clear cross‑border collaboration agreements.
Industry and Policy Update:
The Dominican Republic is a small market where almost all major consulting firms compete. For the last year, the Dominican government has been discussing tax reform aimed at increasing revenue and reducing tax evasion. One of the strategies adopted by the government to reduce tax evasion is the implementation of electronic invoicing, which will be completed in May of this year. With this, funds received will increase, and the government will be able to invest more in capital expenditure for infrastructure works, which is expected to help strengthen the local economy, whose main source of income is tourism.
A reform of the Labor Code is also underway, being discussed with labor unions and business sectors. This will bring significant changes to benefit both sectors. Those reforms are necessary because they improve the quality of life for workers and increase investor wealth.
The Dominican Republic is not an oil-producing country, so any change in crude oil prices in the international markets impacts the prices of local goods and services, as well as the macroeconomy as a whole. This helps explain why the costs of goods and services in the main cities of a small country, such as the Dominican Republic, are competitive with those in large cities in other countries outside the region.
Member & Chapter Highlights:
We have over seventeen years of uninterrupted experience and are known for adding value to our services. The company has a high market rating and receives positive feedback from clients. Clients tend to remain with RAGH for a long time, which is only achieved through services provided with passion.
RAGH maintains a strategic alliance with the local firm Francisco Soriano & Asociados for conducting audits for its clients, as the firm specializes in accounting and tax services. We also maintain other strategic alliances with Attorney and Accountant Richard Gómez Jiménez, who is a Forensic Auditor and Accounting Expert, president of the Audit and Forensic Expertise Commission of the Inter-American Accounting Association (AIC), and is widely known locally and regionally.
We hold multiple certifications in Forensic Auditing, Accounting Standards for Small and Medium-Sized Enterprises (SMEs), International Standards on Auditing (ISA), Certification in Cybersecurity (CC), and Certification to Audit ISO Quality Systems. Certification in Local Taxes, Certification in Process Consulting, among others.
Research & Thought Leadership:
Colleagues who know us often describe us as a firm comprised of highly skilled professionals in the areas we serve. Sometimes we publish technical articles in several fields of the profession and participate in forums with highly qualified colleagues in taxes, laws, and forensic audit.
RAGH uses technological tools for conducting audits and performing data analysis, such as CaseWare Working Papers and IDEA. We use AI in all areas where we consider it appropriate to improve service efficiency and are developing strategies based on local AI to guarantee the confidentiality of clients’ data.
Cross-Regional Collaboration:
For us, joint initiatives are positive options to consider if they allow us to cover the costs of the services provided. This could help if, before quoting, the appropriate understandings are established to define the scope and set fair prices for potential clients.
For successful collaborations, it is necessary to clarify several aspects related to the service process that each party involved must carry out, starting with quotes based on information gathering that allows us to understand the complexity of the services to be provided in order to establish fair fees.
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