El Impacto del Impuesto Mínimo Global y el Futuro del Uso de los Incentivos Fiscales en las Zonas Económicas Especiales

The document argues that the OECD's Pillar Two GloBE rules undermine the effectiveness of traditional SEZ fiscal incentives, such as corporate income tax exemptions, by requiring a minimum effective tax rate (ETR) of 15%. It suggests that countries should shift from profit-based incentives to cost-based incentives and non-fiscal improvements to maintain competitiveness without sacrificing tax revenue. The brief also warns of legal risks associated with reforming these incentives due to investor-state dispute settlement (ISDS) mechanisms and bilateral investment treaties.

• The Global Anti-Base Erosion (GloBE) rules require multinational enterprises (MNEs) with annual consolidated revenues exceeding EUR 750 million to pay a minimum effective tax rate (ETR) of 15% in each jurisdiction. If the ETR is lower, a top-up tax is applied via a Qualified Domestic Minimum Top-up Tax (QDMTT), an Income Inclusion Rule (IIR), or an Undertaxed Profits Rule (UTPR).
• Common SEZ fiscal incentives, including total corporate income tax (CIT) exemptions, performance-based exemptions, and reduced fixed rates, are at high risk of being neutralized by GloBE rules because they lower the ETR below the 15% threshold.
• Evidence suggests that excessive reliance on fiscal incentives in SEZs often fails to establish long-term global competitiveness and can lead to a 'race to the bottom.' In Africa, evaluations of 10 countries showed that fiscal incentives alone cannot compensate for poor investment climates or inadequate infrastructure.
• Reforming or eliminating SEZ incentives may trigger legal disputes through Investor-State Dispute Settlement (ISDS) mechanisms, especially when fiscal stabilization clauses are present. There have been 14 ISDS claims related to SEZs under bilateral investment treaties (BITs).
• SEZs are identified as potential tools for the energy transition. The document recommends using them to incubate sustainable energy investments by shifting toward non-fiscal incentives, such as specialized infrastructure for renewables, and cost-based fiscal incentives rather than profit-based ones.

APA

Ndubai-Ngigi, J. W., & Readhead, A. (2024). El Impacto del Impuesto Mínimo Global y el Futuro del Uso de los Incentivos Fiscales en las Zonas Económicas Especiales. International Institute for Sustainable Development. https://www.iisd.org/system/files/2024-12/global-minimum-tax-special-economic-zones-es.pdf

Chicago

Ndubai-Ngigi, Joy Waruguru, and Alexandra Readhead. El Impacto del Impuesto Mínimo Global y el Futuro del Uso de los Incentivos Fiscales en las Zonas Económicas Especiales. International Institute for Sustainable Development, 2024. https://www.iisd.org/system/files/2024-12/global-minimum-tax-special-economic-zones-es.pdf.

Wikipedia

{{cite report |last1=Ndubai-Ngigi |first1=Joy Waruguru |last2=Readhead |first2=Alexandra |title=El Impacto del Impuesto Mínimo Global y el Futuro del Uso de los Incentivos Fiscales en las Zonas Económicas Especiales |publisher=International Institute for Sustainable Development |date=July 2024 |url=https://www.iisd.org/system/files/2024-12/global-minimum-tax-special-economic-zones-es.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{ndubaingigi2024impacto, author = {Ndubai-Ngigi, Joy Waruguru and Readhead, Alexandra}, title = {{El Impacto del Impuesto Mínimo Global y el Futuro del Uso de los Incentivos Fiscales en las Zonas Económicas Especiales}}, institution = {International Institute for Sustainable Development}, year = {2024}, month = jul, url = {https://www.iisd.org/system/files/2024-12/global-minimum-tax-special-economic-zones-es.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }