Tax incentives for Export Processing Zone Enterprises
i) EPZ enterprises are tax exempt for the first 10 years and pay 25% corporation tax on income for the next 10 years
ii) During the period in which an export processing zone enterprise is exempt from corporation tax the enterprise shall be deemed to be subject to a non-resident withholding tax on payments made to such enterprises where such payments are made by a person who is not an processing enterprise, the tax shall be shall be final tax
iii) Payment by EPZ enterprises shall be zero rated or exempt for tax purpose e.g. import of machinery equipment and goods for use in the enterprise.
iv) Cost of building and machinery is 'expensed' by granting investments deduction at the rate 100%
Wilfykil answered the question on February 25, 2019 at 08:54
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