President Danilo Medina submitted legislation to Congress yesterday, Tuesday 23 July a bill that provides tax exemptions for tourism development and renovation programs in Santo Domingo, Puerto Plata, Punta Cana and Samana. The bill includes new areas in the National District n along the Poligono Central, Ozama River Estuary and Malecon and Avenida Espana sea-fronting areas. The bill modifies Law 158-02 on tourism development that dates back to 2001, and its modifications dated November 2002 and December 2004.
It also extends the tax exemptions covered in Law 158-01 and its amendments to all municipalities in Puerto Plata province, and the municipal districts in the east, Veron-Punta Cana (Juanillo, Cabo Engano, La Salina, La Cuevita, Suero, El Salado, Bavaro, Cortecito, Cabeza de Toro, Arena Gorda, Macao and Uvero Alto) and the province of Samana.
Investments made will be exempt from import taxes and other tariffs applicable to the machinery, equipment and materials and furniture. Investments can be made to modernize tourist businesses that are at least five years old.
The ruling PLD party holds the majority in both houses of Congress.