The Secretary of Energy has enacted Resolution 714/2023 (the “Resolution 714”), dated September 1, 2023, that foresees a tax break for Renewable Power Generation Projects.
Resolution 714 provides that the Impuesto País will not be applicable with respect to the import of assets for renewable power generation projects that either (a) have an import financing facility or (b) do not have an import financing facility in place but submit a request before the customs authority.
Furthermore, the tax break will only be applicable to the projects set forth in Annex I thereto.
Finally, Resolution 741 will be applicable to the extent that the relevant assets are not subject to other tax relief (in which case, the latter shall apply).
For additional information, please contact Nicolás Eliaschev, Javier Constanzó, Rocío Valdez and/or Victoria Barrueco.