The senator for the National District, Omar Fernandezreported this Thursday that it will submit a bill to eliminate the 2% tax applied to mortgage loanswith the aim of facilitating access to housing in the Dominican Republic.
Through a video published on his social networks, the legislator explained that the initiative seeks to eliminate this tax, in force since 1945 and modified in 2007considering that it represents an additional burden that makes the financing and limits the possibilities of acquiring a property.
«Today, more than ever, it is necessary to reduce burdens on people to access something as basic and decent as a home, and thus boost the economy. Mortgage Tax» Fernandez stated.
The senator maintained that this tax acts as a “parallel rate” to the interest on the loan, which ends penalizing to those seeking to obtain their own roof.
“When reviewing what this represents for the State, it is not significant; however, its elimination could make it easier for young people, new couples and families can access their home,” said the congressman.
Currently, the mortgage tax establishes a rate of 2% on the value of the loanthat is, a fee is charged tribute for the simple The fact of requesting financing for the purchase of a property. Added to this is the tax real estate transfer, which further increases the economic burden for acquirers.
The senator’s proposal is framed in an approach aimed at boost the real estate sector and reduce barriers to entry for those who aspire to buy a homeconsidered a basic right and a pillar for family development.
