Ancap. Capitalization.

Original Language Title: Ancap. Capitalizacion.

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Read the untranslated law here: https://parlamento.gub.uy/documentosyleyes/leyes/ley/19368

NATIONAL administration of fuels, ALCOHOL and PORTLAND (ANCAP) SE AUTORIZA the power Executive to proceed to your CAPITALIZATION to through of LA remission of LA debt existing that the referred entity maintains with the Ministry of economy and the Senate Finance and the House of representatives of the Republic East of the Uruguay, gathered at General Assembly, Decree: article 1.-authorize the Executive Branch to capitalize even on Ul 5.712: 381.810 (five thousand seven hundred twelve million three hundred eighty-one thousand eight hundred) ten indexed units) to the national administration of fuels, Alcohol, and Portland (ANCAP), through the cancellation of the existing debt of the entity with the Ministry of economy and finance, collapsed under cover of the law Nº 18.965, of 30 August 2012 and no. 19.339 of 26 August 2015. Declared that the patrimonial increase established in subsection first of this article constitutes gross income for the purposes of the tax on the income of the economic activities (IRAE). In the event that Computable prior years tax losses are less than the fiscal net income for the year in which the increase occurs, the surplus will not be considered for tax purposes. Article 2.-the Executive Branch and ANCAP will proceed to cancel the respective loan agreements and free the guarantees that have been constituted. Article 3.-replace paragraph third from the article 565 of the law No. 17.296, of 21 February 2001, by the following: "tax per litre referred to in subsection first correspond to values of August 31, 2000. Authorize the Executive Branch to annually update these values to variation that experiment the consumer from the aforementioned date index of prices". Article 4.-repealed article 1 of law No. 18.221, on December 20, 2007. Article 5.-this law shall become effective from the date of its promulgation.     Hall of sessions of the House of representatives, in Montevideo, 3 of January 2016. ALEJANDRO SANCHEZ, President.
Virginia Ortiz, Secretary. Ministry of the INTERIOR, Ministry of Foreign Affairs Ministry of economy and Finance Ministry of National Defence Ministry of education and Culture Ministry of transport and public works Ministry of industry, energy and mining Ministry of labour and SOCIAL Security Ministry of Health Ministry of livestock, agriculture and fishing Ministry of tourism, Ministry of housing, TERRITORIAL planning and Environment Ministry of SOCIAL development Montevideo 4 January 2016. Met, acknowledge receipt, communicate, publish, and inserted into the national registry of laws and decrees, the law authorizes the Executive Branch to capitalize on the national administration of fuels, Alcohol, and Portland. TABARÉ VÁZQUEZ.
JORGE VAZQUEZ.
RODOLFO NIN NOVOA.
DANILO ASTORI.
ELEUTERIO FERNÁNDEZ HUIDOBRO.
WILLIAM MONCECCHI.
CRISTINA CHILD.
BENJAMIN LIBEROFF.
JORGE RUCKS.
ANA OLIVERA.