Brussels will allow tax exemptions for investments in green technologies

Brussels will allow tax exemptions for investments in green technologies



The European Comission will allow you to use a part recovery funds to finance tax exemptions granted to investments in clean technologies as part of its industrial plan to accelerate the deployment of renewables and also deal with green subsidies from world powers such as the United States or China.

The president of the Community Executive, Ursula von der Leyen, presented this Wednesday the new industrial strategy of the European Union that the Heads of State and Government will discuss at the summit scheduled for the end of next week and that is made up of four pillars, one of which is to accelerate investment for projects in key sectors such as renewable energyaccording to EFE.

Within the aforementioned chapter, Brussels “firmly” urges European governments to include in their national recovery plans “effective measures to give immediate support to companies and boost their competitiveness.” These reviews should include new measures to absorb previously unapplied loans, such as Spain, which has 84,000 million more in soft loans and another 10,000 million in new direct subsidies. Thus, the Commission proposes that these funds can be used to finance tax deductions and “other forms of support” granted to green investments in clean technologies, whether they take the form of tax credits, accelerated depreciation or subsidies linked to the purchase or improvement of assets. sustainable investment.

The short term block response will be complemented by a further relaxation of state aid through new modifications to the temporary framework of public aid that the EU put in place as a result of the Russian aggression on Ukraine to alleviate the consequences of the war, especially the rise in energy prices. These adjustments will be made through a new modification of said framework, which is temporary in nature and its validity ends on December 31 of this year, but which Brussels wants to extend for two more years, until the end of 2025. In this line, they will be simplified the provisions on public aid for the deployment of renewables and for industrial decarbonization processes will be further strengthened, it will reinforce investment support schemes for the production of “strategic” zero-emission technologies, it will allow “more focused” aid on large key projects in the value chains of clean technologies and will increase the amount of public aid that Member States can grant without having to pass a preliminary examination in Brussels. The objective of these “temporary” measures will be “to promote new investments in production plants”, also through tax benefits, to “guarantee equal conditions with other jurisdictions” and thus avoid the “risk of relocation”.

For him medium termthe European Commission plans to give a “structural response” to investment needs with the proposal for a “European sovereignty fund” before this summer in order to “preserve a European accent on critical and emerging technologies”, among which appointment quantum computing, artificial intelligence or biotechnology.

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Written by Editor TLN

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