(TODAY NICARAGUA) The Executive has submitted a reform bill to extend tax benefits for investments in renewable energy projects until January 2018.
Among the tax incentives that exist for investment in renewable energy is exemption from the “… Import Custom Duties (DAI), Value Added Tax (VAT) and Income Tax (IR). ”
The initiative aims to reform Article 8 of Law 532, which cites that “investors interested in promoting the development of new projects in power generation from renewable sources or make additions to generating capacity from renewable sources, may receive the benefits established by law number 532, for a period of time which ends on 1 January 2018 “.
Elnuevodiario.com.ni reports that “… Similarly, domestic and foreign investors will benefit from exemption from all municipal taxes applicable on real estate, sales and registrations during the construction of the project, exemption from all taxes that may exist on the exploitation of resources and tax exemption tax stamps (ITP), which may be incurred by the construction or operation of the project during ten years. ”