Secretary of the DDEC says that the application submitted by LUMA Energy to receive tax benefits has not been approved

Secretary of the DDEC says that the application submitted by LUMA Energy to receive tax benefits has not been approved

The secretary of Department of Economic Development and Commerce (DDEC), Manuel Cidreconfirmed on Sunday that LUMA Energy presented a request for a decree under the Incentives Code (Law 60 of 2019) that would provide the operator with a series of tax benefits, but rejected that such request had been granted.

“Although we confirm that such a request was submitted, it is necessary to clarify that it has not been approved. “At present, this is in the process of interagency and municipal evaluation, as established by law.”said the official through written expressions.

“Likewise, we clarify that contractors and subcontractors of entities Public Private Partnerships doing works on the electrical network, they have to pay taxes and license fees to the municipalities, without any exemption,” he added in the communication.

In past weeks, The DDEC circulated a draft decree to about thirty municipalities under the Incentive Code which, according to the text, would provide LUMA Energy 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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