A tax-free zone is a geographical area delimited within the National Customs Territory (“TAN”), where industrial activities of goods and services, or commercial activities are carried out.
On June 16, 2023, the Congress of the Republic issued the conciliation report of bill No. 226 of 2022 Senate – 117 of 2021 Chamber “whereby the definition of environmental liability is established, the guidelines are established for its management and other provisions are issued”, which contains the final text of the project that will become a Law of the Republic (the “Environmental Liabilities Law”), for the enactment of which only the presidential sanction is pending.
1. What are the environmental liabilities (“Environmental Liabilities” or “Environmental Liabilities”)? According to the Environmental Liabilities Law, these are defined as: “The environmental impacts caused by human activities directly or indirectly by the hand of man, authorized or not, cumulative or not, capable of being measurable, locatable and geographically delimitable, which generate an unacceptable level of risk to life, human health or the environment, in accordance with what is established by the Ministry of Environment and Sustainable Development and the Ministry of Health, and for the control of which there is no environmental or sectoral instrument” (Highlights inserted).
2. Public Policy for the Management of Environmental Liabilities Within one year following the entry into force of the Law, different institutions must establish the guidelines for the formulation, implementation and evaluation of a Public Policy for the Management of Environmental Liabilities, with its respective action and follow-up plan.
