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Post by Sapphire Capital on Jul 12, 2008 21:15:51 GMT 4
On October 2 2007 law for the promotion of electric energy generation with renewable resources (the energy law) was published in the Honduran official gazette.
Pursuant to the energy law, companies or individuals engaged in the development, operation and generation of electrical energy projects using renewable national natural resources and projects of co-generation with national renewable resources will be granted with the following tax incentives:
* Sales tax and customs exemption for the acquisition and of importation of equipment, raw materials, spare parts and services related to the generation of electrical energy with renewable resources, which will be used in the development, installation, building of the renewable electrical energy generation plant and tax credits for research, development and design. * Income tax, temporary social contribution tax and asset tax payment exemption for a ten-year period starting for projects with capacity installed up to 50 megawatts. * The renewable energy projects could benefit from the incentives granted by the customs law in relation to the temporary import of machinery and equipment necessary for the building and maintenance of the projects. This machinery and equipments will be destined only and exclusively for the service of the project of renewable energy generation. * Income and withholding taxes on payments of services, professional fees of non-resident individuals or companies, required for the study, development, installation, engineering, administration and construction and monitoring of the renewable energy project.
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