Reduction of corporate taxation in various sectors
31 Dec 2020
The Finance Law (Law No. 66-2020 of 31 December 2020) proposed a reduction in the corporate income tax rate from 30% to 28% for mining, quarrying and real estate companies; a reduction in the corporate income tax rate for non-resident taxpayers carrying out activities in the country without a permanent establishment from 35% to 33%; decreasing the special tax on companies/minimum tax; granted a total exemption from corporate income tax upon an extension of the establishment agreement signed with the country; applying a 20% final withholding tax rate for foreign companies, which cannot prove that they have a professional installation in the country.
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Type:
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Promotion and facilitation (Investment incentives)
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Promotion and facilitation (Investment incentives)
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Industry:
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Not industry specific
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Primary (Mining and quarrying)
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Sources:
