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Sao Paulo Offers Tax Breaks For Renewable Energy

by Mike Godfrey, Tax-News.com, Washington

31 August 2015


The Government of the Brazilian state of Sao Paulo recently announced tax breaks for certain renewable energy equipment.

Pursuant to decree 61.440/2015 components for wind turbines and solar power generators are exempt from the ICMS tax, a value-added tax that is levied on the intrastate circulation of goods, and transportation and communication services.

Electric power supplied under the net-metering system – whereby residential owners of solar panels supply excess power to the state grid – has also been granted an exemption from the ICMS under decree 61.439/2015. The measure took effect on September 1, 2015.

The tax breaks are intended to boost employment and encourage the use of renewable energy sources.

TAGS: environment | tax | economics | value added tax (VAT) | tax incentives | fiscal policy | energy | Brazil | tax breaks | services

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