NewsWhore
08-05-2010, 03:40 PM
President Leonel Fernandez has sent a bill for the "prudent" use of the pension funds to the Senate. As of 30 June of this year, the Pension Fund had accumulated RD$107 billion. The government wants to use the funds to invest in low-cost housing.
The bill eliminates possible double taxation situations affecting local and foreign investors with the new rulings that are proposed.
As reported in Hoy, the bill creates the Construction Trust, a regime of tax exemptions to feed the fund. It also establishes Programmed Savings Accounts for housing purchases.
More... (http://www.dr1.com/index.html#2)
The bill eliminates possible double taxation situations affecting local and foreign investors with the new rulings that are proposed.
As reported in Hoy, the bill creates the Construction Trust, a regime of tax exemptions to feed the fund. It also establishes Programmed Savings Accounts for housing purchases.
More... (http://www.dr1.com/index.html#2)