Real Property Release

The Dominican Taxing Authority (Dirección General de Impuestos Internos – DGII) issued the General Rule No. 08-2014 for the release of real property to those individuals and companies that have sold a property and whose purchaser has not made ​​the payment of the Real Estate Transfer Tax on time (six months from the closing or sale contract date). This Statement was issued in order to prevent inconveniences when new owners do not transfer their real properties in the term provided by the law.