Dominican Republic: More Property Regulations To Come

• The informality of property is a historical evil that dates back more than 60 years with about 60% of the country’s properties not formally regularized or titled, said Héctor Pérez Mirambeaux, general director of the National Cadastre (DGCN).
• To face this problem, the DGCN, the Ministry of Finance, and the Inter-American Development Bank (IDB) launched the Project for the Development and Implementation of the Geographic Information System to strengthen cadastral information and improve access to services for the population.
• The system seeks to strengthen the process of land registration and titling while having a more reliable real estate inventory, allowing the application of valuation techniques that will positively impact revenue management and strengthen the cash availability of the treasury.
• The Vice-Minister of the Treasury, Derby de los Santos, said that by having a better capacity to know the cadastral information of the country, the State could simultaneously increase its revenue collection capacity. He emphasized that the investment to create this system is a loan of more than US$500,000 from the IDB.
• On the other hand, Ariel Zaltsman, IDB’s leading specialist in tax management, explained that this system is part of the Program to Improve the Efficiency of Tax Administration and Public Expenditure Management. As part of this program, the design of the geo-referencing application in an open-source tool and the acquisition of a geo-referencing tool and computer equipment have been financed so far.

(Source: Dominican Today)