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Customs Duty Exemption

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Exemption from the Payment of Customs Duty

1. An investor shall be allowed to import duty free capital goods and construction materials necessary for the establishment of a new enterprise or for the expansion or upgrading of an existing enterprise.

2. In addition, an investor granted with a customs duty exemption privilege shall be allowed to import duty free capital goods necessary for his enterprise
3. Notwithstanding the provisions of lists 1 and 2 above the Board may, by its directives, bar the duty-free importation of capital goods and construction materials where it finds that they are locally produced with competitive price, quality and quantity.

4. An investor eligible for duty-free importation of capital goods pursuant to these Regulations shall be given the same privilege for spare parts whose value is not greater than 15% (fifteen percent) of the total value of the capital goods to be imported.

Conditions for Importing Vehicles Duty Free:

1. Any investor may import duty free:
• Ambulances used for emergency case of employees
• Buses used for tour operation services.
2. Without prejudice to list 1 above, the board may issue directives on conditions of importing duty free:
• up to three 4-wheel drive vehicles for tour operation services
• Vehicles for any other investments depending on the type and nature of the project.

The length of the  tax exemption period may  be ex tended  for  one   additional year  when the  investment is made in  relatively under-developed regions of the country. However,investors who export hides  and skins after processing below crust level are not  eligible for income tax exemption.

Investors   who   invest  in  priority areas  (textile and garments, leather products, ogre-processing, etc.) to  produce mainly export produc ts will be provided land necessary for their investment at reduced lease  rates.

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