The President has signed into law tax concessions to raise foreign investment, including an 8-year relief from property tax, a 10-year relief from corporation tax, and a 10-year freeze on remaining taxes. If a production facility is in operation, other measures contain a capital investment’s refund on up to 30%, and the right to propose foreign workers in excessive set of quotas for the entire period of construction, and for a year following the discounting of a production facility. Though tariff ceilings will be fixed for a five years period, or more for certain industries, VAT and excise tax rates will change. The incentive’s package will be proposed for new program value regarding investment with at least USD20m in industries treated as being of high importance.
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