Oil Companies Will Also Receive An Incentive For Purchasing Ethanol
Wednesday, August 28 2013 @ 05:57 PM EDT
Contributed by: Anonymous
The company Campos de Pesé, of Panamanian and Nicaraguan capital –responsible for supplying ethanol-, will also receive incentives.
According to Law 42 from 2011, this company is exempt from paying income tax for ten years, as well as any importation tax, paying for their industrial and commercial license, operation notification, taxes and municipal taxes.
Besides, they will receive a tax credit for 60 cents per gallon, which will be paid every month.
“This incentive is intended for us to recover millionaire investments in terminals and service stations,” said Chiriatti.
Regarding the diminution in importation of fuel –due to the use of ethanol-, he said he is not worried about the diminishment of fuel, because they support the government initiative. (TVN)