Member Article

The frameworks for biofuel production and tax treatment are set out in Decree-Law 62/2006 of 21 March and Decree-Law 66/2006 of 22 March respectively. The first decree-law transposes Directive 2003/30/EC of the European Parliament and of the Council of 8 May, which indicates that Member States should actively promote the production and use of biofuels in order to increase energy independence and diversification within the Community, on the one hand, and to reducing CO2 emissions, which is vital for attaining the Community’s environmental goals, on the other. The second decree-law, in exercise of the legislative powers conferred by the 2006 State Budget Law, establishes the rules for tax benefits which will enable biofuels to become more competitive in relation to fossil fuels (crude oil derivatives, mainly diesel and petrol). To read full newsletter, please follow the link below. http://www.worldservicesgroup.com/files/publications/biofuels2.pdf