Revenue department issues regulation on tax incentives for infrastructure projects

The Federal Revenue Department issued Normative Instruction No. 758, which regulates the conditions and requirements for companies to apply for the Special Incentive Regime for Infrastructure Development (REIDI). RIEDI allows eligible companies to receive suspension of the P.I.S. and COFINS on local purchases and imports of new machinery, instruments, equipment, and construction materials for use in infrastructure works in the areas of transportation, energy, basic sanitation and irrigation.