The bill presented by the government includes exemption from income tax and property taxes and for transfers of companies engaged in reforestation activities.
From a statement issued by from the National Assembly:
Environment Minister, Mirei Endara, presented on Wednesday, to the plenary of the National Assembly, a draft law establishing an incentive program to restore forest cover and promote conservation of natural forests.
Under this initiative, this project establishes an incentive program, which includes:
- Exemption from income tax
- Exemption from property tax
- Exemption from tax on transfer of property
- Exemption from introduction tax
- Direct grant funding