Incentives Law for the Development of Renewable Energy Projects (Ley De Incentivos Para El Desarrollo De Proyectos De Energia Renovable)

The incentive law, which is regulated by the Accord 211 of 2005, provides fiscal incentives for renewable energy technologies. It includes 10-year exemptions for import duty and Value Added Tax (VAT) on imported renewable energy equipment. This incentive will be valid during the pre-investment and the construction, which shall not exceed ten years. Likewise, it also offers 10 year exemptions on income tax and a commercial tax on renewable energy projects.

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