Building a new port, expanding an airport, or modernizing a waterway requires large-scale investments. To facilitate these undertakings, companies executing projects deemed priorities can rely on an important tax incentive: infrastructure debentures.
Created by Law No. 14.801/2024, infrastructure debentures are debt securities issued by companies to raise funds in the financial market. The key difference is that the legislation grants tax benefits to the issuer, reducing the cost of this fundraising. In practice, this allows companies to obtain financing under more advantageous conditions and direct more resources towards infrastructure works and improvements.
Special purpose entities, concessionaires, permit holders, authorized entities, and lessees responsible for implementing priority projects in the port, waterway, airport, and support facility sectors can apply for the benefit.
For issuing companies, the legislation allows for the full deduction (100%) of interest expenses when calculating net profit, in addition to the exclusion of 30% of this interest from the calculation base for corporate income tax (IRPJ) and the Social Contribution on Net Profit (CSLL). These incentives reduce the tax burden of the operation and make the issuance of infrastructure debentures more attractive.
Investors also benefit. Individuals have reduced Income Tax rates on earnings, ranging from 22.5% to 15%, depending on the investment term. Institutional investors, such as pension funds, are exempt from tax on these earnings. This set of incentives increases investor interest and facilitates fundraising by companies.
Before issuing infrastructure debentures with tax benefits, the project needs to be endorsed by the Ministry of Ports and Airports (MPor). The analysis verifies whether the undertaking meets the legal requirements and if the investments are foreseen in the concession or lease agreements.
According to Helena Venceslau, Director of Economic Affairs of the Executive Secretariat of the Ministry of Ports and Airports, this step ensures that the benefit is granted only to projects that meet the criteria established by law. "This is the Ministry's role: to ensure that the benefit is granted only to those who are truly entitled. The endorsement confirms that the documentation presented is valid and that the project is part of the investment planning foreseen in the concession or lease agreements," she explains.
Want to know if your project can be endorsed? Access the Infrastructure Debentures page on the Ministry of Ports and Airports portal and check the criteria, necessary documentation, and the step-by-step process to apply for the benefit.
