Budget 2019-2020 to extend and expand the corporate taxation exemption regime
10 Jun 2019
The 2019-20 budget speech was presented by the Prime Minister and Minister of Finance and Economic Development on 10 June 2019.
With regard to corporate taxation it proposes to extend and expand the partial exemption regime. This regime would be expanded to apply to leasing and the provision of international fibre capacity; reinsurance and brokering of reinsurance services; and sales, financing arrangements, and asset management of aircraft and spare parts, including aviation-related advisory services.
Other tax-related measures in the budget provide for, inter alia:
• A tax holiday of eight years with regard to an innovation box regime for newly established and certain existing companies
• An eight-year tax holiday to promote marina developments and an exemption from value added tax (VAT) on marina construction costs
• The development of real estate investment trusts (REITs) and e-commerce headquartering activities.
Nature of measure:
Type:
-
Treatment and operation (Other)
Industry:
Inward FDI:
No
Outward FDI:
No
Sources:
