Today in the Dominican Republic, there are two taxes that are deductible from any acquired property.

• PROPERTY TRANSFER TAX

This tax equals 3% of value of the transferred real estate in accordance with the market price. Real Estate Transfer tax is applied to all real estate transfers, even those acquired by loans granted by financial intermediaries, provided that the home acquired or plot established for this purpose with said loans has a value greater than RD$ 1,000,000.00. Said value will be adjusted annually due to inflation. Real estate transfers that claim the special regime of tax exemptions for tourism development established by Law 158-1 and its modification 184-02 are exempt from this tax.

• REAL ESTATE PROPERTY TAX 

The surplus of the RD$5,000,000.00 equals 1% of the assessed property value. This tax is annual and must be declared during the first sixty (60) days of the year. Real estate that claims the special regime of tax exemptions for tourism development established by Law 158-1 and its modification 184-02 are exempt for ten years from this tax.

The Dominican government, in its clear commitment to promote its main economic engine, created the Fondo Oficial de Promoción Turística (Official Fund for Tourism Promotion) to support the economically solvent companies with the necessary expertise to complete projects like Iberostate Bávaro.

The tourism project developed by Iberostate in Bávaro not only offers a wide variety of homes that adapt to the current needs of our clients, but also offers tax advantages for those who invest in the Dominican Republic.

We are available to provide you with more information about these tax benefits, which you will get when you acquire an Iberostate home. info@iberostate.com.do