Copyright © Casa de Campo Sales by Caribbean Paradise Homes Inc. All rights reserved.
RETIREMENT INCENTIVE LAW
* Exoneration of taxes of home and personal goods
* Partial Exoneration of taxes of vehicles
* Exemption of taxes on transfer real estate title (on the first property)
* Exemption of the 50% of taxes on mortgage if the institution is regulated by the financial monetary law
* Exemption from the 50% of the Tax of the Property (IPI)
Note: In order to get these benefits you must fist apply for a residence in the Dominican Republic.
BENEFITS OF TOURISM INCENTIVE LAW 158-01
Some of the properties sold by tourism resorts benefit from the provisions of Tourism Incentive Law 158-01, whose objective is to stimulate, through a rational process, the development of the tourism industry in the regions with great potential or that have excellent natural conditions for its tourism development throughout the country.
In accordance with article 2 of the Law, all individuals or companies residing in the country that initiate, promote or invest capital in any of the tourism activities specified in the Law and in the tourism destinations and/or provinces and/or municipalities included in the law may benefit from the incentives granted by it. These activities include the purchase of real estate located in projects covered by the Law: its beneficiaries will enjoy an exemption of 100% applicable to the following:
1. Income tax generated by promoting, implementing or investing capital in the tourism activities specified, and in one of the zones included in the Law;
2. National and municipal taxes collected for using and issuing construction permits and purchase of land or other types of real estate properties, as long as they will be used to develop a specific tourism activity. This include Real Estate Transfer Taxes (sale, in-kind contribution and any other form of real estate transfer), equivalent to 3%, with regards to land and buildings, whether to be part of the project, or to be transferred to investors or buyers.
3. Import and other taxes, such as rates, rights, surcharges, including the Transfer of Industrialized Goods and Services Tax (ITBIS), equivalent to 16%, applicable to equipment, materials, and furniture necessary for the first furnishing and start up operations of the tourism facility in question. This includes all services, materials and equipment to be used in the construction of the facilities.
The tax exemption period applicable to each project, business or tourism company is ten (10) years counted as of the date of issue of CONFOTUR's resolution approving the works.
For further information regarding these services please contact us at our US 917.310.6487 or DR 809.813.2002 to speak to one of our property consultant's or email us at email@example.com
Copyright © Pictures and text are copyright protected. Unauthorized copy or use is prohibited.