Izang described earmarking of a fraction of the revenue
accruable from tobacco taxes and levies as one of the best practices effective for the promotion of public health.
According to sources, the corporate income tax relief that SEZs and the government have proposed to the investors includes 100% tax exemption from all taxes on imported goods and
accruable income for 10 years.
it also includes five-year tax holiday on income
accruable in relation to the development and operation of the SEZ for the developer.
They also generate automatic information alert for the port of destination.The release says this system, when put into effect, will further enhance security and safety of ports and cargo; prevent under-declaration of gross registered tonnage (GRT) of ship; prevent under-declaration and concealment of cargo; improve revenue
accruable to government; and hasten vessel reception and cargo clearance procedures.
That is to say that the higher the risk of an investment, the higher the reward
accruable for having undertaken such a risky investment.
This is because the huge amount of revenue
accruable from petroleum products that should be invested in other sectors of the economy for the growth and development of the economy goes into the hands of private individuals who use it for their own selfish ends.
Furthermore, it recognizes that underinvestment in, or abuse of, the economic, environmental, or social resources that surround an entity can create long-term negative value, even if those contingent liabilities are not
accruable under GAAP.
The investors will get exemption from all taxes on income
accruable in relation
The investors will get exemption from all taxes on income
accruable in relation to the development and operation of the SEZs for a period of five years and exemption from all taxes on income for enterprises commencing commercial production by June 30, 2020, in the SEZs for the next ten years.
Second, exemption from all taxes on income
accruable in relation to the development and operation of the SEZ for a period of five years is to be given.
The incentives include one time exemption from duty and taxes on import of plant and machinery for developers and enterprises, 5-year tax holiday on income
accruable in relation to the development and operation of the SEZ for the developer and 10-year tax holiday for enterprises on income
accruable in relation to the production/operations started by June 30, 2020 and thereafter 5-year tax holiday for enterprises would be admissible.