Attractive Incentives

• Any income tax derived from approved new investment shall be exempted for periods of 1 to 5 years, depending upon the priority area of investment activities and the geographical location of the investment

• Business enterprises encountering losses during the tax holiday period can carry forward such losses following the expiry of the exemption period for 3 to 5 years

• Corporate tax is 35 %

• Free repatriation of profits and dividends

• Expenditures for training and research are tax deductible.

• 100 % exemption of import custom duty and other taxes levied on imports is granted to investment capital goods : plant, machinery, equipment, etc., as well as spare parts worth up to 15% of the value of the imported investment capital goods;

• Exemption from customs duties or other taxes levied on imports shall be granted for raw materials necessary for the production of goods for export market;

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