The Public Ministry (MP) argues that EDP will have to pay more than 300 million euros in taxes related to the sale of six dams to the French consortium led by Engie, as reported by SIC this Wednesday, November 5th.
Although the MP concluded that there was no tax crime in the transaction, carried out in 2020, this does not eliminate the company’s responsibility in relation to taxes owed.
The MP document, to which the SIC had access, clarifies that “due to the inapplicability of the fiscal neutrality regime, EDP Produção would be obliged to reinvest the realization value within a maximum period of two years (until December 31, 2022)”.
However, according to the information released, EDP Produção “will eventually only have made a partial reinvestment of the realization values” from the sale of the dams.
The intention to sell the six dams in the Douro basin was announced by EDP in March 2019, and the consortium led by Engie acquired the asset for 2.2 billion euros.