Tax incentives you can get for using renewable energy in your company

In Colombia, the energy sector is showing great difficulty, due to factors such as the phenomenon… BoyThe scarcity of water in reservoirs and dams and its high prices – Not implementing projects that rely on renewable energy.

In the midst of the warning from the company operating the national interconnected system XM due to the decline in reservoir levels in the country, and power supplythe weighted average price of energy on the stock market rose significantly More than $850 per kilowatt hour.

“In addition to the generally recognized environmental benefits of renewable energies, the Ministry of Finance and Public Credit offers significant tax breaks to people and companies using solar energy in Colombia,” noted Sebastián Patiño, CEO of Ecocity.

Special income tax deduction

Article 11 of Law 1715 of 2014, amended by Law 2099 of 2021, stipulates that taxpayers who declare income tax and encourage development and investment must resort to the use of renewable energy. They will benefit from deducting an amount equivalent to 50% of the total value of the investment, without exceeding 50% of the taxpayer’s net income.

Excluding goods and services from value-added tax

Article 12 of Law No. 1715 of 2014, amended by Law 2099 of 2021, specifies a series of goods and services that fall within the scope of Fcner uses electrical energy and manages energy efficientlywill be excluded from VAT.

Tariff tax exemption

Article 13 of Law 1715 of 2014, amended by Law 2099 of 2021, specifies the cases in which owners of new investments in non-conventional energy sources projects will not have to pay tariff taxes. When importing machinery, equipment and materials Which will be used exclusively in the investment stages of projects.

Accelerated depreciation of assets

Finally, Article 14 of Law No. 1715 of 2014 addresses the benefit of enjoying the accelerated depreciation system, with regard to the deductible expense when declaring income tax, which
it will be In proportion to the value of the asset and may not exceed 33.33% annually.

This way projects With renewable energies in companies They are promoted through benefits granted by the government and are especially valuable in the country’s energy crisis. Currently in the country.

(Tags for translation) Construction

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