The Brazilian Ministry of Environment and Climate Change has implemented Ordinance GM/MMA No. 1,250/2024 to regulate the Incentive Mechanism for the Recycling Industry. This ordinance outlines proposal submission processes, eligibility criteria, and tax deductions for supporting recycling projects. Proposals must align with governmental objectives and range in value from R$50,000 to R$8 million, with a maximum execution period of three years.
The Brazilian Ministry of Environment and Climate Change has introduced Ordinance GM/MMA No. 1,250/2024, designed to oversee and regulate the Incentive Mechanism for the Recycling Industry. Proposals submitted under this framework must align with objectives outlined in Law No. 14,260/2021 and Federal Decree No. 12,106/2024. The law allows for tax deductions to encourage the support of recycling initiatives, with specific eligibility criteria for participants, including various organizations and enterprises. Proposals must meet a minimum valuation of R$50,000 and can reach up to R$8 million, with applications processed through the Partnership Management System. Upon approval, projects may be executed within a maximum duration of three years.
The Recycling Incentive Law in Brazil was established to combat environmental challenges by promoting efficient waste management and increasing recycling initiatives throughout the country. The law particularly aims to alleviate the financial burden on participants by offering tax deductions, thereby fostering innovation and investment in recycling projects. Thus, the recent ordinance serves a pivotal role in facilitating the implementation of the recycling initiatives designed to support sustainable development and ecological balance.
In summary, the Brazilian Ministry of Environment and Climate Change has enacted an ordinance that lays the groundwork for improving the recycling industry through structured proposals and incentives. This move aims to encourage participation from a diverse array of organizations, thus optimizing the value of recycled materials and contributing to a greener economy. The initiative promises to enhance the effectiveness of Brazil’s recycling efforts, significantly impacting environmental preservation.
Original Source: www.mayerbrown.com
