Work for taxes
The work for taxes scheme is an important alternative for the efficient reduction of the infrastructure gap that is S/.117BB in the short term and S/.363MM in the long term.
As stated by the General Directorate of Private Investment Promotion Policy of the MEF, the work for Taxes scheme would contribute by 3% to the reduction of the short-term gap and 1.4% of public investment.
Given the above, it is important to encourage this investment alternative. For this, improvements in three components are required: (I) Management, (II Regulatory scope and (III) Dispute settlement. In the first it is necessary the formation of teams and continuous training of Public officials and managers.
It is also important that the private sector does not lose the relationship with the public entity, the improvement of the quality of the profiles and technical files, the implementation of an work for taxes platform that allows obtaining online information about the project and also visualizing the CIPRL (Certificate of Regional and Local Public Investment) electronic. Fundamental is the work carried out by the MEF to develop a methodological guide, so that the official has knowledge of the steps to follow in the management of these projects.
Proinversión has also been strengthening coordination and training with the different levels of government, which will allow the reduction of obstacles in the procedures due to lack of knowledge of the norms. In relation to the normative component, the continuous updating of the norm is necessary, bearing in mind the MEF pronouncements in which some criterion or interpretation has been adopted to cover some legal vacuum.
With respect to the third component, in order to avoid unnecessary stoppages in the work, it is necessary to analyze the relevance of including the figure of Dispute Board or Dispute Resolution Board, means for the resolution of disputes that may arise between the parties regarding the execution, interpretation, resolution or invalidity of the contract.
Finally, it is substantial to emphasize that this investment tool is perfectible in time and that the obstacles and contingencies found in the implementation of the projects must be addressed with an objective, reasonable, cost-benefit and results-based analysis that contributes to access of the basic needs of the population and to reduce the infrastructure gap in the country.
(Source Semana Economica)