The privileges & Exemptions:
An investment project, subject to the provisions’ of law (No.9) for 2010 shall enjoy the following privileges:
- Exemption of the machinery, equipment and tools necessary for the execution of the project from customs duties, import fees, and other fees and taxes of a similar nature. However, exemption stated above does not include ports, handling and storage service fees.
- Exemption from all fees and taxes for all supplies, raw materials, spare parts, transport means, fixtures and fittings, publicity and advertising material and any other requirements related to the operation and management of the project for a period of 5 years.
- Commodities produced for export are exempt from production tax, customs duties and any other charges imposed on exports.
- The investment project is exempt from income tax for a period of 5 years (from the starting date of the operating license).
- Investment projects can qualify for extending the exemption period for further 3 years if the
- projects proves:
- It contributes to the achievement of food security.
- it utilizes measures that are capable of achieving abundant energy or water supplies
- Contributes to the protection of the environment.
- Contributes to the local and rural areas development.
- Exemption of return on investment including dividends, interests, shares equities, and equity release from merger, sale of a division or a change of the legal from of the project and any other returns arising from the investment projects, during the period of exemption.
- Exemption of any profits arising from the projects activity; when such profits are reinvested.
- Exemption of all documentary records, registers, transactions, agreements and contracts that are ratified, signed or used by the investment project, from stamp duty (payable in accordance with the effective legislation).
Incentives The Package of incentives and exemptions enjoyed by the foreign and local investor for a period of five years:-Exemption from all customs duties and taxes.
Exemption for five years from all customs duties and import taxes
Exemption from income taxes from the date of commencement of production and this applies to profits from the investment.
Exemption of goods from export tax.