On November 4 the Executive Branch published a decree amending the Investment Promotion Regime, establishing transitory tax incentives for investment projects submitted to the Investment Law Application Commission (COMAP).

The incentives are:

1) For projects submitted between December 1, 2015 and December 31, 2016, the exemption percentage will be increased by 10% provided investments made through December 31, 2017 represent at least 75% of the project’s committed investment.

2) Investments made between December 1, 2015 and December 31, 2016 will be computed at 120% of the amount exempt from the Business Income Tax (IRAE), thereby increasing the amount of the exemption.

3) These benefits can be accumulated during the period.

For queries contact the Finance Department