Summary.
The law governs tax benefits for companies registered in the Official Register of National Industry or holding industrial promotion contracts. It amends Article 23 of Law 28 of 1995.
What it covers.
- Retention of tax benefits for the remaining term of a registration or contract.
- Extensions of industrial registrations and the requirements for applying.
- Authority to administer industrial promotion regimes.
Who it applies to.
- Companies registered in the Official Register of National Industry.
- Companies holding industrial promotion contracts with the Nation.
Key points.
- Registered companies and companies holding industrial promotion contracts retain their tax benefits for the remaining term of their registration or contract, subject to the regime for sensitive products.Art. 23
- Registered companies can request, before their registration expires, an extension for activities in effect on July 27, 2007; an extension can be granted through December 31, 2015.Art. 23
- Companies whose registrations expired on July 27, 2007 can request renewal and extension within 60 days of the law’s promulgation.Art. 23
- The Minister of Commerce and Industries administers these regimes while the registrations and contracts remain in effect; for sensitive products, that authority belongs to the ad hoc commission.Art. 23
Validity and changes.
- Law 28 of June 20, 1995Art. 1, Art. 2: amend Article 23