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President Leonel Fernandez revokes tax increase

The director of Department of Taxes (DGII), Juan Hernandez, has suspended, for the time being anyway, the raise in assessment values on real estate and in its table of reference for calculating the Tax on Property (IPI). He said he did so in response to a request from President Fernandez. The Dominican leader asked the official to wait until the end of debates at the National Unity Summit.

Despite knowing that the values attached to real estate classified as luxurious or as unused urban lots or buildings have not been revised since 2005, Fernandez said that "we need to wait until the process of the working group dealing with the economy and competitiveness is finished."

The DGII director confirmed the request from the President, saying that it was in line with the spirit of the Unity Summit that is seeking a consensus on all major issues.

For more information on Property Tax issues click here.

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