National Institute

Tax incentives: All acquisition of main social housing operations is exempt from tax (VAT) sales. All operations of purchase of dwellings are exempted from payment of duties, fees or notarial contributions and public record. Creates a currency of construction (MC) as an index of value set by the National Institute of urban land and housing (INTUV), which will determine its value within the first thirty days of each calendar year. Option to purchase contracts for sale or offer of sale shall lay down its price at MC, as well as the time of final delivery of the work and of notarization. Subsidies: The INTUV may subsidize works of homestead by payment of the variation that record the MC, freeing the debtor acquirer against the Builder.

The INTUV may benefit to purchasers through the granting of a portion of the total value of the unit, using the payment to the constructor of the equivalent to a number of MC, releasing this to the acquirer from the constructor. Requirements to be beneficiary of the subsidy: identity card. RIF. Declaration sworn not to possess housing. Certified copy of the purchase option contract notarized sale. A copy of the municipal administrative acts of approval of the work. Increase of the contributions to the system of housing policy: the contribution of employees shall be three per cent of the basic monthly remuneration and of employers is hereby established at five percent. Increase in the credits of politics Habitacional: the National Executive shall have a period of time not to exceed six months from the enactment of this Act to increase the amount of the appropriations for the law’s system of housing and housing policy, according to a scale of amounts as salary of the family group and to the contribution of workers, between one hundred and six hundred minimum wages, by which the amounts intended to finance the purchase of housing rises substantially. These will be updated annually According to the reality of the national housing market.

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