An analysis by Garrigues, Taxand Spain
The recently concluded 28th COP summit resulted in a global commitment to renewable energy and energy efficiency. Notably, the summit aimed to triple the world’s installed renewable energy generation capacity and double the global average annual rate of improvements in energy efficiency by 2030. Additionally, there is a focus on accelerating the development and adoption of zero and low emissions technologies.
To fulfil these commitments, signatory states, including Spain, must implement comprehensive and ambitious national measures. Tax measures are among the strategies that may be considered. Noteworthy incentives could involve allowing certain renewable energy investments to be amortized freely, providing bonuses for solar energy installations in local taxes, and enabling accelerated amortization for sustainable vehicles and charging infrastructure in Corporate Tax.
José María Cobos from our Spanish firm, Garrigues, has recently published an article in Expansion analysing the full details of these tax incentives and their potential impact.
Read the full article here.
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