Bill boosts tax breaks for Dominican Republic tourist resorts
The Chamber of Deputies has passed the changes to Law 158-01, Law 184-02 and Law 318-04 on tourism tax incentives and promotion. The bill had already passed in the Senate and now moves to the Presidency for signing into law. It extends the duration of tax exemptions that have been approved for 10 years to 15 years. It also extends the areas where tax exemptions can be approved to new areas in Santo Domingo and other parts of the country, including: Santo Domingo: Poligono Central in Santo Domingo, the city’s main business district located between John F. Kennedy, 27 de Febrero, Winston Churchill and Ortega y Gasset avenues.
Malecon (Ozama River to Av. Abraham Lincoln and Av. George Washington to Av. Independencia).
Ozama River estuary from the east side to Calle Cuarta, Calle La Terminal del Mar Caribe.
Avenida Espana from the north side of the avenue sidewalk to the first lot, and from Sans Souci to the Juan Carlos Bridge (Av. Charles de Gaulle).
The Municipal District of Veron-Punta Cana is added, including Juanillo (Cap Cana) and the El Salado area (including Bavaro, Cortecito, Cabeza de Toro, Arena Gorda, Macao and Uvero Alto). The province of Samana is also included.
The tax exemptions include 100% import tax on equipment, furniture and other goods to be used to modernize hotel installations for properties that were built at least five years ago.
Category: DR News |