Newsletter #139/September 2022
The Electric Mobility Incentives Law (the Law) entered into force on August 27. The purpose of said Law is the facilitation and promotion of the importation, sale, purchase and use of electric vehicles, hybrid vehicles, hydrogen vehicles and generally the electric transportation, to contribute with the energy diversification and greenhouse gas emissions.
The Law includes the following incentives:
- Tax Incentives:
Value Added Tax (VAT)
Specific Tax on the First Registration of Motor Road Vehicles (IPRIMA, due to its acronym in Spanish)
Road, Sea, and Aerial Tax
- Incentives for the public administration: State and Municipal entities may acquire hybrid vehicles, electric motorcycles, and hydrogen vehicles, when convenient for the State’s interests.
The exemption period for all tax incentives is 10 years, starting on the entry into force of the Law, which was on August 30, 2022. Therefore, the mentioned tax incentives will end on August 29, 2032.
The Law also recognizes the freedom to install, operate and provide charging services for electric vehicles in the national territory. A distributor or trader may be providers of charging services for electric vehicles, if they comply with the Law, the General Electricity Law, its Regulations and the applicable Technical and Commercial Provisions.
For more information, please contact:
María de Lourdes Villanueva, firstname.lastname@example.org
Gabriel Cabrera Menocal, email@example.com