Investment incentives targeting the tourism industry and other business activities
30 Dec 2013
On December 30, 2013, the Senate passed the "Tourism and Business (Special Incentives) Act", later published in the Official Gazette (Vol. XXXIV No. 26).
For a period of two years — potentially extendable by the Parliament — the Act allows qualifying investors to benefit from special incentives for investments above $1 million. Incentives may include, depending on the capital invested: import duty waivers; loss-carry forward; exemption/reduction of withholding tax; property tax reduction; reduction of stamp duty on land transfers and non-citizen licences.
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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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Manufacturing
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Services (Accommodation and food service activities, Telecommunications, Computer programming, consultancy and related activities, Financial and insurance activities, Real estate activities, Scientific research and development, Human health activities, Arts, entertainment and recreation)
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Sources:
