RULES GOVERNING THE SPECIAL REGIME OF ECONOMIC, FISCAL, CUSTOMS AND OTHER INCENTIVES APPLIED IN THE AREA OF SPECIAL ECONOMIC ZONES
On May 9, 2025, Resolution No. 014-25 was published under Official Gazette No. 43,124, the purpose of which is based on the regulation of the requirements, conditions and procedures applicable to requests for tax refunds for Income Tax (ISLR), Value Added Tax (VAT) and Import Tariffs (Draw Back). as well as the calculation methods concerning the depreciation of machinery intended for production.
Among the most relevant aspects we can highlight the following:
- With regard to the refund of import tariffs, the incentive will correspond to the refund of 100% of the customs taxes paid for the importation of all those inputs of foreign origin that are incorporated in the development of their processes.
- Before requesting the respective refund, participants must request the certification of compliance with economic activities of the Z.E.E. before the respective Superintendence on a semi-annual basis.
- The Tax Administration is responsible for issuing the tax refund order. Once the refund request is received, they will have a period of 3 business days to review the collections and issue the refund order.
- Once the National Treasury office receives the refund order, it must proceed with the respective payment of the tax within a maximum of 7 days thereafter.
- Regarding accelerated depreciation, the assets must comply with the requirements established in Article 17 of the regulation. When the participant wishes to exclude any of his or her assets from accelerated depreciation, he or she must notify it. Likewise, the only accepted method of measuring depreciation will be the straight line.
Finally, the resolution will enter into force as of its publication in the Official Gazette.
Official Gazette No. 43,124, dated May 9, 2025, Resolution No. 014-25 regulating the special regime of economic, fiscal, customs and other incentives applied in matters of Special Economic Zones.
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