BENEFITS of Law No. 158-01 on Promotion of Tourism Development
¿Cuáles son los beneficios e incentivos que se otorgan por medio de esta ley?
Law No. 158-01 on the Promotion of Tourism Development was created with the aim of encouraging the tourism industry in all regions of great potential, which meet excellent natural conditions for tourism development.
To achieve this objective, some tax incentives were integrated that favor buyers of properties developed in this area, therefore, the buyer who acquires a property protected under this Law, will be exempt from paying:
the Transfer Tax on real estate rights, which is equivalent to 3% of the property's value, and
the Real Estate Property Tax (IPI), which is equivalent to 1% of the annual tax on the surplus RD $ 7,710,158.
In the same way, through the Confotur Law, tourism project developers benefit, who receive tax exemption on the inputs used for the construction of the work, which translates into a better price for the final buyer.
Undoubtedly, this law has managed to boost growth in tourist destinations in the Dominican Republic, as it is super attractive for foreign investment.
Ask your real estate advisor for information about the tourist projects that are under the protection of confotur.