“It would be outrageous”: they thunder against potential tax incentive to LUMA Energy

“It would be outrageous”: they thunder against potential tax incentive to LUMA Energy

The possibility that contractors and subcontractors who perform work for LUMA Energy receive an exemption of up to 75% on any municipal tax or excise set off the alarms of mayors and the Municipal Tax Collection Center (CRIM), whose executive director, Reinaldo Paniagua Latimerwarned this Saturday that it would be a benefit that did not exist for the companies that were previously recruited by the Electric Power Authority (AEE).

“It would not seem fair to me that private contractors who come to do work for LUMA, who have absolutely nothing to do with the government of Puerto Rico or with any municipality, should be granted an exemption. If you demand that a grocery store, pharmacy or ‘beauty parlor’ have to file forms (on personal property), there is no reason for a private contractor (to be exempted),” said Paniagua Latimer.

In recent weeks, the Department of Economic Development and Commerce (DDEC) has circulated to dozens of municipalities a draft decree under the Incentive Code (Law 60-2019) which, according to the text, would provide LUMA with a series of tax benefits under the provisions applicable to businesses that are dedicated “to the production or sale of green energy on a commercial scale for consumption.”

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