Senate approves resolution rejecting LUMA Energy’s request to receive tax benefits

Senate approves resolution rejecting LUMA Energy’s request to receive tax benefits

The Senate approved this Monday – with 22 votes in favor and one abstention – a resolution rejecting the request for a tax decree presented by the company LUMA Energy under the protection of Incentive Code (Law 60 of 2019) for the exemption from paying a series of taxes.

The Senate Concurrent Resolution 60 points out that the private entity -in charge of the operation of the transmission and distribution system of the electrical network- “has enjoyed sufficient benefits in its contract with the government of Puerto Rico.”

Likewise, he adds that the conglomerate already “has preferential treatment under the Public-Private Partnerships Law”so the request for a decree to the detriment of the finances of the central government and municipal governments is “unnecessary.”

A copy of the approved resolution will be sent to LUMA Energy and the Department of Economic Development and Commerce (DDEC).

On Sunday, the secretary of the DDEC, Manuel Cidre, confirmed the filing of the request with said agency, but rejected that it 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 in written statements.

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