.png)
Confotur law and its benefits in the Dominican Republic
Save taxes now
(CONFOTUR) is the body in charge of the application of Law 158-01 for the Promotion of Tourism Development for poles of little development and new poles in provinces and localities of great potentiality, and its modifications.
WHATS IS CONFOTUR?
(CONFOTUR) is the body in charge of the application of Law 158-01 for the Promotion of Tourism Development for poles of little development and new poles in provinces and localities of great potentiality, and its modifications.
It has the power to determine, through resolution, the classification of tourist projects or tourist activities that will benefit from the incentives contemplated in the law.
Many of us have heard of confotur, the law to promote tourism investment, a law that helps promote investment in this sector bilaterally, both for the builder and the final consumer.
The promoter and builder benefits from tax exemption on construction supplies, which makes the cost much more efficient and profitable, which, in turn, translates into a better price for the final consumer.
BENEFITS OF SAID LAW
The properties that are protected by the CONFOTUR Law are exempt from tax commitments that in other properties you would have to pay such as:
Transfer Tax on real estate rights (3% of the value of the property).
Real Estate Property Tax (IPI). Equivalent to 1% of the annual tax of the excess of +/- RD $8,150,000. That is, if you have several properties, they add up and only what adds up to that value will be exempt.
You, as a buyer, will be exempt from paying that 1% for the time determined by the approval of the law in that project, which is usually between 10 and 15 years.
