Policy status:Ended
Date Effective:2007
Date Ended:31 December 2011
Policy Type:Economic Instruments>Fiscal/financial incentives>Tax relief
Policy Target:Industry>Industrial equipment>Motors
Agency:Ministry of Finance

The 2007 Budget introduced tax allowances for the purchase or installation of high-efficiency electric motors. For documented expenses incurred for the purchase or installation of electric motors with high electrical efficiency between 5 and 90 kW, including when purchased to replace an old motor, an allowance from gross tax can be claimed equal to 20% of the costs incurred. The allowance is awarded in a single payment, up to a maximum value of EUR 1500 for each engine. A similar allowance has been envisaged for documented expenses, incurred by 31st December 2010, for the purchase and installation of inverters on systems with an electrical power between 7.5 and 90 kW.

Last modified: Wed, 27 Mar 2013 21:43:58 CET