Green taxes and Tax reform

Regulation & Policy    May 21, 2021 2:23 PM

Naturgas’ Andrés Sarmiento spoke about the need to include green taxes in the new tax reform.

Sarmiento told La Republica that the construction of a new tax reform represents important opportunities for the country.

“The first is that green taxes must be included. The previous proposal received some important signals against expanding the base of the carbon tax,” Sarmiento said.

The expert said that the association believes that this should be done and that it is a source to continue deepening environmental care programs.

“The second is through energy funds, and especially the special promotion fee fund. We believe that we can continue to reach the most vulnerable families and continue to expand natural gas coverage,” Sarmiento said.

Sarmiento said that the sector is developing 127 projects for around US$2.9B.

“Some are in production, there are projects to continue expanding the gas E&P frontier, other transportation projects and also regasification projects, and other distribution projects,” Sarmiento said.

Bottom-Line: The discussion of green taxes generated controversy in the sector, as this affects the investment plans and projections of investors.

The country needs a tax reform quickly, but it will not be free of controversies …

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