Economy July 27, 2022 | 11:32 am

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Taxes endanger dynamism of the housing sector

Santo Domingo – Taxes endanger the dynamism of the
Acropovi said in an institutional note that the Construction sector is barely reinventing itself and looking for mechanisms to recover from the international crisis, “so the application of tax measures to platforms such as Airbnb would result in a new economic impact, which, instead of boosting to the sector, it would slow it down and, in turn, could call into question the investment decisions of acquirers and developers”

‘’We have been working hard to face the challenges of recent years, because as a sector we have tried to get ahead with the constant increase in essential construction materials since the beginning of the pandemic, such as steel and cement. And, although the sector has remained resilient, this scheme makes the projects in plans and in execution vulnerable due to the inflationary variables that affect us, affecting the dynamism of the sector and access to decent housing,” said the President of Acoprovi, Jorge Montalvo..

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Paul Tierney
July 27, 2022 11:49 am

Endanger the dynamism is a stretch of words. Taxing the Airbnb’s is a way the government brings additional funds into its restless treasury. The resort and hospitality industries owned and operated by foreign interests send portions of their revenue overseas do pay taxes. Yet, there are many discounts and waivers of taxes afforded to them by government to provide incentives to invest in the RD. The Airbnb’s and similar should petition government to grant them discounts and waivers as incentives to stay in the RD.