The Government has provided for a comprehensive package of incentives for holders of Free Zone Developer, Operator or Manager Licenses which include:
- Exemption from taxes and duties on all export processing zone imported raw materials and intermediate goods, machinery and equipment, spare parts, for exclusive use in the development and production output of the business enterprise.
- Unrestricted remittance of profit after tax.
- Tax holiday for 10 years on finished consumer and capital goods.
- 100% exemption from tax on income from agro-processing.
- 100% exemption on income derived from the operation of aircrafts in domestic and international traffic or the leasing of aircraft
- Exemption on plant and machinery used in the free zones for 5 years and 1 day from Customs duty upon disposal.
- Exemption from all taxes, levies and rates on exports from the free zones namely excise duty and Customs taxes;
- 100% exemption from tax on income of a person offering Technical Assistance under a Technical Assistance Agreement;
- Exemption from import duties and taxes on all goods entering a free port zone;
- VAT exemption on supply of selected services e.g. medical services, social welfare services, power generated by solar;
- Exemption of Withholding Tax on petroleum, petroleum products, plant and machinery, human or animal drugs and supply/importation of raw materials.
These incentives will allow our investors to produce and/or process large quantities and better quality goods at a relatively competitive lower cost for the export market.