Decree 926 of 2017 - Regulation of the Non-Accrual Mechanism for the National Carbon Tax

Colombian decree regulating the procedure for full or partial non-accrual of the national carbon tax established under Law 1819 of 2016. It sets out the conditions under which taxpayers may demonstrate compensation for greenhouse gas (GHG) emissions associated with taxable fossil fuels by using certificates of emission reductions or GHG removals generated by mitigation initiatives implemented in Colombia. The decree regulates certification requirements, validation and verification by accredited bodies, and the conditions for applying the tax treatment. The mechanism aims to encourage climate change mitigation initiatives. Decree 926 of 2017 amended provisions of Single Regulatory Decrees 1625 of 2016 and 1076 of 2015. Decree 446 of 2020 subsequently modified provisions concerning the accreditation of validation and verification bodies.