The region has a budget ceiling for the execution of works for taxes that amounts to 1,890 million soles.
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The director in charge of Directorate of Decentralized Investments of Proinversión in Arequipa, Denisse Miralles, argued that this money is not well used by the local authorities, either due to ignorance of this investment mechanism or due to the lack of projects.
Of the S/ 1,890 million, 498 million soles are the maximum for the Regional Government of Arequipa (GRA) and that of the municipalities amounts to S/1,392 million. The official explained that currently 58 companies are executing projects valued at S/ 841 million in various municipalities of Arequipa. The companies that have invested the most through this mechanism are: Antamina with S/1,546 million, BCP with 1,130 million, Southern Peru with S/ 866 million.
However, the number is low. For example, the GRA has not executed any project in the Arequipa Region, it has almost S/ 1,890 million for works due to investment taxes through Works for Taxes of 2017. This is because the entity was paying the debt for the execution of the Chilina bridge. Miralles said that the current management has presented a portfolio of projects to investors in Lima and is expected to award this year, through this modality.
Recently, the law for works for taxes was modified, so a large project is no longer needed, it can be one of lower budget like the IOARR.
Source: Larepublica
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