The Executive Power regulated the Knowledge Economy Law last Monday.
In October, after several months of debates, the Chamber of Deputies turned the project into law that promotes tax incentives until 2029 for companies and entrepreneurs of design, adaptation and development of software production and services related to new technologies.
Overall, and beyond the fact that the main chambers of the sector agreed that it is good to have a regulatory framework and that “it is better to have some benefits than none”, the executives assure that the enactment took longer than expected.
Adrian Anacleto, CEO and founder of Epidata, says that the delay in this regulation made the industry lose the possibility of creating thousands of jobs and generating a billion pesos in turnover, which directly affected the GDP.
”We welcome the regulation of the Knowledge Economy Law along with the new benefit of the 0% drop in export taxes. Now it is our turn to look forward and hope that the law is implemented accordingly.Adrián AnacletoCEO of Epidata