ISIC 37 falls under 'Processing of waste' as a Qualifying Activity. Forensic focus is on the transformation of sewage into reclaimed water or biosolids. If the entity merely provides transport/collection without chemical/biological treatment, it fails the 'Processing' threshold. Furthermore, if the entity is a government-regulated utility provider, it may be reclassified as an Excluded Activity under Article 3.
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Legal Reference
Ministerial Decision No. 229 of 2025, Article 2(1)(k)
Audit Red Flag
Misclassification of 'Regulated Utility Services' provided to the general public (Excluded) as 'Processing of Waste' (Qualifying).