Reinvestments from CMVMC and Corporate Tax: advancing the just energy transition

• by OEGA
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Last week, the OEGA released a report on the tax treatment for reinvesting benefits from a community of neighboring forests when establishing an energy community. The report, prepared by Professors César García Nuevo and María Begoña Villaverde Gómez from the Department of Financial and Tax Law at the University of Santiago de Compostela, complements a previous report aimed at enhancing the role of Communities Neighboring Forests Communities in the ongoing energy transition.

The presentation day, organized by the CMVMC of Tameiga, brought together approximately twenty agents/actors from rural environments associated with collective action entities. The event displayed the report’s key findings. In brief, it concludes that reinvesting CMVMC profits in the establishment and development of energy communities can result in a reduction of the taxable base of Corporate Tax, provided two conditions are met: the reinvestment must be recognized as a public service and must be deemed socially beneficial.

If you are interested in obtaining a copy of the report, please send an email to OEGA, identifying your organization and why you are interested.

(cover picture from https://pasos.coop/)