The National Government of Colombia's commitment to non-conventional renewable energy already has its starting point. With the approval of the National Development Plan, the door is opened for a series of tax benefits for those who bet on this market.
These are several articles of Law 1715 that provide investors, SMEs and individuals with benefits in matters of deductions and IVA elimination.
In fact, one of the points is Article 179, which extends the period of use of the special deduction in income for investments in power generation with non-conventional renewable sources from five to 15 years. The incentive has a 50% deduction for 15 years. It is not an exemption and will only be for investments in power generation.
There is another article that plans to eliminate VAT for the adaptation of solar panels.
With this, natural persons or small and medium enterprises can implement these types of sources with the advantage of eliminating this tax.