Internal Taxes Agency Decides Not to Update Property Taxes

Juan Hernández, Director of the Internal Taxes Agency, announced that the government would not update property taxes, confirming that, for the moment, they will remain as they are calculated by the Real Estate Property Tax (IPI). This halt to property tax increase is being carried out due to a request made by Dominican President Leonel Fernández.

“it is necessary to wait for the conclusion of the work table on economic topics and competitiveness which will be carried out at the Summit.”

The President asked the Tax Agency officials to wait until discussion on important national topics have taken place at the Summit of National Consensus to Face the Global Crisis, called by the government.

Despite being aware that the values of urban lots, real estate property, luxury home and building have not been updated since 2005, Fernández said the “it is necessary to wait for the conclusion of the work table on economic topics and competitiveness which will be carried out at the Summit.”

The Director of Internal Taxes affirmed that President Fernández’s request is in keeping with the climate that reigns over the Summit of National Consensus which seeks a mandate and accord on all issues of national interest.