Approves tax incentives for priority industries
24 May 2013
In order to encourage value addition in the agricultural sector, agro-processing has been designated as a priority industry for purposes of tax holiday under the Taxation Act, 11th Schedule. In addition, electricity generation and distribution shall also be designated as a priority industry. All investors that shall benefit under this provision need to ensure that they remain committed to delivering the desired outputs such as: production for export, value addition, employment creation and generation of foreign exchange for the economy. In view of this, the Government will closely monitor performance and is at liberty to withdraw this incentive where there is evidence of abuse or under-performance depending on the agreed benchmarks.
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Type:
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Promotion and facilitation (Investment incentives)
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Industry:
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Primary (Agriculture, forestry and fishing)
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Services (Electricity, gas, steam and air conditioning supply)
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Sources:
