New rule extends deadline for incentives from December 31, 2023 to the end of 2028
The law 14,753/2023which extends the deadline for the approval of projects authorized to receive tax benefits in the areas of activity of the Superintendences of Development of the Northeast (Sudene) and the Amazon (Sudam) until 2028, was published in the GIVE (Official Diary of the Union) on Wednesday (13.Dec.2023).
The norm, sanctioned by the President of the Republic, Luiz Inácio Lula da Silva (PT), comes from PL 4416/2021from the deputy Julio Cesar (PSD-PI). The text was approved by the Chamber of Deputies and the Senate.
The new law changes the rule established in 2001 by provisional measure which set the deadline for incentives on December 31, 2023. The law extends the deadline until the end of 2028.
Incentives
Companies that present installation, expansion, modernization or diversification projects in sectors of the economy considered priorities for regional development can obtain benefits.
The incentives are:
- 75% reduction in Income Tax and additional taxes calculated based on exploration profit; It is
- possibility of reinvesting 30% of the Income Tax due, plus 50% of own resources.
Sudene and Sudam
Sudene's area of operation covers the entire Northeast region, in addition to 249 municipalities in Minas Gerais and 31 in Espírito Santo.
Sudam encompasses the entire Legal Amazon (Acre, Amapá, Amazonas, Mato Grosso, Pará, Rondônia, Roraima, Tocantins and part of Maranhão).
With information from Chamber Agency.
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