Abolishing certain tax incentives for foreign investment
01 Jan 2019
Certain tax incentives, which were available for foreign investments have been abolished, effective from 1 January 2019. Previously, foreign investments enjoyed up to seven years tax reduction on their income tax or corporate tax on condition that the investments were targeted on specified new growth engine industries, or that the investments occurred in the free economic zones, foreign investment zones, or free trade zones. Provided that the investment occurred before the end of 2018, it can still enjoy the tax benefits.
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Type:
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Promotion and facilitation (Investment incentives)
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Industry:
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