The Law 10.456/24, sanctioned without vetoes, establishes a special tax treatment for companies or consortia responsible for independent projects of plants for the generation of electrical energy from natural gas in the State of Rio de Janeiro.

The incentive is intended for new projects that have obtained a prior environmental license and are winners of energy auctions held by the National Electrical Energy Agency (Aneel) between 2015 and 2032.

The new tax benefit provides for the deferral of ICMS in the following transactions:

  • import of machinery, equipment, parts, pieces and accessories intended for the installation of the project, insofar as they are imported and customs-cleared by the ports and airports of Rio de Janeiro;
  • internal acquisition of machinery, equipment, parts, pieces and accessories intended for the installation of the project; and
  • interstate acquisition of machinery, equipment, parts, pieces and accessories intended for the installation of the project, in relation to the ICMS rate differential.

The deferral also applies to companies contracted or subcontracted for the construction of the plants of companies and consortia holding the tax benefit.

Additionally, there is also an ICMS exemption on the internal acquisition or import of natural gas – even if liquefied – to be used in the process of electrical energy generation.

The ICMS deferral also applies to internal transactions with natural gas produced in the State and destined to companies or consortia not granted with the special tax treatment mentioned above. In this case, the tax must be collected in the occasion of the electrical energy output transaction from the thermoelectric plant. The ICMS deferral extends to the supply of transport services of natural gas.

The payment of ICMS will be waived:

  • when the electrical energy output is destined to another State for commercialization or industrialization; or
  • when it is a remittance of goods or supply of services that is not taxed or that is exempt, as long as the legislation allows the full maintenance of the credit.

As a return for the tax benefits provided for in the Law and as a mechanism of energy compensation, companies and consortia holding the tax benefit must invest at least 2% of the variable cost related to the natural gas fuel in projects for the generation of electrical energy from renewable sources.

Alternatively, this investment can be made in:

  • projects for the preservation of energy in public buildings, public lighting, monuments of historical or tourist interest;
  • studies on energy transition, renewable energy and sustainable development; or
  • studies on the energy sector within the State of Rio de Janeiro.

Machado Meyer Advogados remains available to clarify any doubts on the subject.