A public-private partnership (PPP) is a very particular type of contract through a bidding process whereby the public partner (a government entity) delegates some of its own responsibilities to a private partner under a long-term contract that defines the rights and obligations of each party during the term as well as the mechanisms for its financial rebalancing arising from unforeseen events or lack of compliance of the parties.
PPPs are an important tool for developing infrastructure and therefore fostering economic development. They are used with infrastructures like roads, airports, ports, power, water, and solid waste treatment and typically involve investment, operation and maintenance.
Public initiative: originated by public agents with or without government funding.
Private initiative: originated by private agents that offer a long-term cooperative agreement between a private company and the national or local government.
Non-for-profit: nonprofit organizations are increasingly involved in the PPP model. Bringing together international organizations for cooperation agreements, other nonprofit organizations or local businesses.
Law 46-20 on Voluntary Wealth Disclosure was recently enacted by the president of the Dominican Republic. This statute establishes a special and transitory tax amnesty for taxpayers to voluntarily disclose or reassess all their movable and real estate properties located in the country and abroad, including those that have not been previously declared.
The purpose of law Law 46-20 is that taxpayers normalize their fiscal obligations and voluntarily disclose their assets at market value before the Dominican Tax Office, through the payment of a one-time and definitive 2% amnesty tax overall disclosed or reassessed assets.
The assets which can be disclosed under the law include real estate or movable assets located in the country or abroad; inventories for sale or production; national or foreign currency deposited in authorized institutions; financial instruments or securities; and any other type of asset provided that the reassessment implies a decrease in assets.
In practical terms, real estate holders who did not register their property’s real value at the time of purchase will be able to apply to this law through the payment of the 2% market value amnesty tax, and, thereby, eliminate the risk of getting hit with a hefty 25-27% capital gains tax in the event of a future sale of their undervalued asset.
In addition, this law eliminates 100% of all surcharges on any type of tax debt, as well as any late payment interests exceeding one year. Taxpayers will have a period of 90 days starting from the law’s date of enactment, to benefit from the tax amnesty.
Please feel free to contact us should you wish to receive additional information about the law’s amnesty application process.
The Electoral Assembly of the Dominican Federation of Amateur Boxing (Fedoboxa) has unanimously elected Rubén García Bonilla, partner of the firm Guzmán Ariza in Las Terrenas and Samaná, as president of the federation for the 2020-2024 period.
During the elections held at the headquarters of the Dominican Olympic Committee (COD), the cluster chaired by Mr. García, called “Restructuring and Rescue of Boxing” received massive support from the delegates.
Rubén García has been passionate about sports all his life, having been part of the legendary national championship winning mini-basketball team Tamein. He is also an amateur athlete and marathoner, a passion he has shared with his successful career as a lawyer.
Guzmán Ariza attended the official opening of the Club Med Miches Playa Esmeralda hotel, an all-inclusive ecological resort, the first of its kind, part of its Exclusive Collection of luxury hotels on the most exceptional beaches of the world.
Guzmán Ariza has been the external counsel of Club Med for more than 10 years, for all legal matters related to its operations in the Dominican Republic.
The event was attended by the president of the Dominican Republic, Danilo Medina, and senior officials of the Club Med hotel chain: Henri Giscard D’Estaing, president; Eileen Kett, senior vice president and general advisor and Carolyne Doyon, president and executive director of the division for North America and the Caribbean.
The firm attended the 40th edition of FITUR, the largest international trade event in the tourism industry, held annually in Madrid, Spain.
Madrid, Spain – The firm’s partners, César Calderón and Giselle Pérez, represented Guzmán Ariza in the 40th edition of the International Tourism Fair (FITUR), held in Madrid, Spain in January 2020.
During the event the firm strengthened its ties with clients, sharing with the executives of the companies it represents, and with Dominican government officials, with whom we maintain a close collaborative relationship.
FITUR is the most important global meeting point for tourism professionals in Latin America, where representatives from more than 165 countries and companies associated with the industry of hospitality and real estate participate, to communicate their offers and explore trends in consumer demand.
Related links: https://www.ifema.es/fitur
The Dominican government unveiled a Master Plan for the Tourism Development in the province of Pedernales and announced that the bidding process for real estate projects will begin between March and April, highlighting the interest of attracting international investors to take part in the development of this destination.
The main components of the proposed development plan include road construction, airport expansion, water infrastructure, solar power plant development and conditioning of the Cabo Rojo dock, among others. The mixed public and private sector project will have an investment from the Dominican government of $ 67.5 million USD.
This project aims to develop an ecotourism friendly destination, in strict compliance with the country’s environmental legislation.
Lex Latin, the first digital magazine specialized in the Latin American legal market, interviewed Fabio Guzmán Saladín about the country’s expectations for the year 2020, considering the upcoming presidential elections and their effect on foreign investment. The interview also delved on the strengths of the Dominican legal framework and the conditions that impacted Dominican tourism last year. This interview is available here.
Guzmán Ariza advised Netflix regarding tax law and film industry incentives, labor issues, and other necessary legal support for the successful completion of the first Netflix project filmed entirely in the country at Pinewood Studios Dominican Republic, the 2019 series The I-Land.
Our firm was involved in the negotiated agreement, also providing general advice on labor issues and production matters.
Guzmán Ariza is a leading firm in the Dominican Republic’s emerging film industry, working with film producers and their projects in different parts of the country. Our Cinema and Audiovisual Unit is led by attorneys and leaders in movie making, production and financial advisory in the Dominican film industry.
We are proud to have represented Netflix’s interest in this exciting new production.
Melissa Sosa, senior counsel of the firm Guzmán Ariza, took part on Thursday, December 5, 2019 in Edición Nocturna, an interview show conducted by journalist and writer Miguel Guerrero, to discuss Illegal occupations by squatters in view of the recently enacted law 396-19 which regulates the granting of the public force to carry out conservatory and enforceable actions, along with other legal experts.
The show aired on CDN, channel 37, at 10:00 p.m., with a rerun the next day at 5:00 a.m.