Net Wealth Taxes (Impuesto al activo)

If you mean IPI/IVSS it is paid by 11th. March & 11th. September each year. It is called Impuesto Sobre la Propiedad Inmobiliaria IPI/IVSS & applies on properties valued above RD$5 million. There are quite a few threads in Legal & Living Forums if you'd like to do a search (search either IPI/IVSS or Luxury property tax). Details of what it is, how it works etc here:
http://www.dgii.gov.do/dgii/impuestos/Paginas/ivss.aspx
And there's also a downloadable file here (number 1 on the list):
http://www.dgii.gov.do/publicaciones/guias/Paginas/GuiasContribuyente.aspx

lepeter1 said:

Can anyone explain how the above mention works? Does this mean that all property owners have to pay this tax in addition to the annual property taxes? I read it's about one percent paid twice a year (in June and in December). Is this correct? Whatever help provided in answering my questions is appreciated.

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You may be referring to a Assets tax, which is paid by companies, once per year, one percent of total assets, it is a minimum tax, and the tax amount paid for assets is deductible from the annual income tax due by corporation to the tax revenue office (DGII).