- Rio de Janeiro creates tax regime that seeks to incentivise environmental initiatives
Rio de Janeiro creates tax regime that seeks to incentivise environmental initiatives
01/09/2022 Since 4 months
The municipality of Maricá, east of Rio de Janeiro, Brazil, approved a new law at the end of 2021 that establishes a new tax regime for environmental protection initiatives, such as so-called “green currencies” or sustainable cryptocurrencies and green funds. The Service Tax (ISS) rate paid by companies located in Maricá that provide environmental services will be reduced from 5% to 2%.
Beneficiaries include fintech companies, environmental assets, startups that provide these services, in addition to management activities and funds that fall under this scope of action. Green bonds and currencies will be created and used in service provision contracts. The reduced taxation of environmental services will take place during the settlement phase of the green voucher, i.e. when the service provider settles the green currency and converts it into cash.
The City’s plans also envisage the use of clean energy in public buildings, promoting the revitalisation and repopulation of the Maricá lagoons.
This post is also available in:
IDB, BNDES, Banobras and ALIDE Launch Latin American Hub with Infrastructure Projects
The Inter-American Development Bank (IDB), together with the Brazilian Development Bank (BNDES), the National Works and Public Services Bank S.N.C. of Mexico (Banobras) and ALIDE (Latin American Association of Develop...
IDB offers the 2nd edition of the New Environmental and Social Policy Framework Course
The course arises as an opportunity for improvement and harmonisation of environmental and social standards within the IDB group.
The certified course is aimed at officials of government agencies implementing proj...
Bancoldex from Colombia announces the issuance of social bond
The Colombian development bank Bancoldex announced the issuance of a social bond for an amount in local currency equivalent to nearly 100 million dollars. The placement is part of the Bancoldex's 2022-2026 sustainabil...