The Senate passed the Transparency and Patrimony Reassessment Bill on 10 February 2020. The bill is by Senator Adriano Sanchez Roa (PRSC-Elias Piña). The bill had already been approved by the Chamber of Deputies.
The Ley de Transparencia y Revalorización Patrimonial establishes a transitory tax regime whereby taxpayers can declare, reassess and pay taxes on property to regularize their tax obligations. Individuals, corporations and undivided family estates have 90 days to seek the exemptions approved by the bill.
The bill was included in the priorities established by President Danilo Medina when convening the extraordinary session of the legislators. The bill is mentioned as a first step to raising property assessments in the Dominican Republic.
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Hoy
11 February 2020