Yesterday, Executive Decree No. 44414-H, referring to the Regulation of the Real Estate Tax Law, was published in the Official Gazette's Daily Gazette No. 78, which repeals the law that was in force since 1999.
One of the main reasons for this new regulation is to adapt the standard to the new provisions in force and the current needs under the principles of regulatory improvement and transparency.
Among the novelties established by the new regulations are the unification of criteria regarding valuation mechanisms, correction and adjustment factors for tax values, databases, issuance of certificates and certifications, among others.