Dominican Republic expands to whole country benefits and commitment to tourism with modification to Tourist Incentive Law.
The Chamber of Deputies became law Tuesday by approving emergency and two consecutive sessions, the draft amending law 158-01 which will expand the tourist areas of the country, in which, the tax breaks restores 3 % transfers of real estate that had been deleted in the past fiscal reform. It also establishes the expansion of 10 to 15 years the period of tax exemptions, grants and incentives at national level and not in the tourist areas .
Ramon Rogelio Genao, said the project is to do justice, because the incentives were only reserved for the East region, will spread to the four corners there is a tourist destination, and can meet the goal of 10 million tourists annually, posed by the President Danilo Medina.
Also defined benefit or those who would apply either to the new facilities, hotels that are transformed or remodeled. The project was subjected by President Danilo Medina via the Senate in order to bring tax levels to allow constant development of the national tourism industry and attract investment to the sector of local, foreign and multinational companies incentives.
The piece seeks to benefit from the incentives provided for by law 158-01, as amended, four areas of Santo Domingo, defined as the Central Industrial Park, the Maritime Front National District ( Malecon ), the estuary of the Río Ozama, and Maritime Front Santo Domingo Este Avenue ( Spain ).
Extends tax incentives law 158-01 , as amended, to the extent applicable, all municipalities in the Province of Puerto Plata, and sends the system of incentives and benefits that apply to the borough Veron -Punta Cana Resort
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