RERAIGV - Descripción - Acordeon - Conceptos EN

PROJECT

Work or economic activity that the Beneficiary undertakes to carry out.

BENEFICIARY

Natural or legal person that is in the pre-productive stage of a project and has the Ministerial Resolution qualifying it for benefiting from the Regime.

INVESTMENT COMMITMENT

Investment amount to be executed as from the date of the request for benefiting from the Regime. In the event that, as of said date, the pre-productive stage of the Project has started; or as of the start date of said stage contained in the investment schedule of the Project, in the event that it starts after the date of request.

PRE-OPERATIONAL STAGE

In the case of projects supported by sector contracts, the period from the date of execution of the contract or agreement with the State or the granting of authorization in accordance with sector regulations until the date prior to the start of production operations.

In the case of specific projects, the period from the date of commencement of the investment schedule to the date prior to the commencement of production operations.

SECTOR

Central, regional or local government entity that, within the framework of its competencies, is responsible for entering into and subscribing, on behalf of the central, regional or local government, contracts or agreements or granting authorizations for the concession or execution of works, investment projects, provision of services and other development options.

If the execution of contracts or agreements or the granting of authorizations is not applicable, the central government entity that exercises control over the economic activity referred to in the Project shall be considered the sector.

START OF PRODUCTION OPERATIONS

When the Beneficiary of the Regime makes the first export of a good or service, or the first transfer of a good or service levied with the VAT, resulting from the exploitation of the Project; as well as when they receive any income levied with VAT that constitutes the system of recovery of the investments in the project, including the costs, operation expenses or maintenance carried out.

In Projects executed in stages, sections or similar, the start of productive operations shall be verified as for each stage, section or similar, as determined in the investment schedule.