The project that the Executive Branch deposited in the National Congress does not contemplate taxing the Value Added Tax, better known as VAT, on the transfer of real estate.
The clarification was made by the Ministry of Finance in a statement on social networks. He pointed out that they will propose a wording that explicitly addresses the treatment of real estate and intangibles or rights under that figure.
The Treasury’s statement comes after the Dominican Association of Home Builders and Developers (Acoprovi) warned yesterday that the proposed measures could make the purchase of homes inaccessible for a large part of the population.
It is recalled that last Monday President Luis Abinader admitted that some of the proposals on tax reform “must be reviewed”, after questions and complaints from some sectors about the Government’s proposals for tax transformation, whose goal is to collect more of 122 billion pesos per year.
The president expressed his consideration during the development of La Semanal con la Prensa, in the National Palace, where he also said that throughout this week they will review “in an accelerated manner” some of the proposals with all sectors “to seek consensus.”
