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The buildings whose surface does not exceed the 140 m2 per dwelling unit and fulfill the requirements, characteristics and conditions determined by special regulations issued by the President of the Country.

Which are the key points of this law?

Encourage housing construction through different tax benefits, a quota system of housing savings and certain urban development and construction regulations.

1) Exemption of the income tax on income produced by housing covered by the DFL-2. Therefore, the rents of these houses are not income for tax purposes. For this, it is necessary to fulfill the following requirements:

a) They can not be commercial.

b) The income produced do not include the sale, only lease or usufruct.

c) Only benefits the one who gets the rent income, not the third party using the property.

3) The Inheritance Tax, allowances and grants is exempt when such housings or property rights are transferred in succession mortis causa or are donated. To apply for this benefit, the cause or donors should be built or purchased at least 6 months before his death and if any acquired in the first transfer.

4) Exemption of 50% of Land Tax (property taxes). The benefit applies from the date of issue of the certificate issued by the Municipal Government and by the following deadlines:

20 years, when the built area is equal to or less than 70 m2.

15 years, when the built area is greater than 70 m2. and less than 100 m2.

10 years, when the built area is equal to or greater than 100 m2. and less than 140 m2.

5) The Conservador de Bienes Raíces' fees are reduced in 50%