NewsWhore
08-21-2009, 02:40 PM
Homes that have a value of RD$1.5 million or less will not have to pay the 16% ITBIS tax, according to a new decree issued by President Leonel Fernandez. Decree 611-09 creates a RD$200 million fund so that these homes can be purchased without paying the ITBIS tax. The decision seeks to stimulate the construction of more low cost housing. The ITBIS program will be valid through 31 December 2010.
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