New value of real estate tax in Paraguay
The Executive Branch issued Decree No. 6541/2021, which establishes the new real estate tax values that will serve as the tax base for the determination of the real estate tax and its additional tax for fiscal year 2022. The adjustment made is 7.6% for both urban and rural properties.
This modification worries the real estate sector in terms of the impact it may generate on the final consumer.
The decree dictates that the fiscal values for the year 2022 will be adjusted based on the variation of the Consumer Price Index (IPC), according to data from the Central Bank of Paraguay (BCP), which in the period of the twelve months prior to November 1, 2021 reaches the figure of 7.6%.