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Important Features of the tax holiday:
- Offered for 5 to 10 years after a company or project begins commercial production
- 50% reduction offered for 2 years after the initial tax holiday ends
- Priority sectors: basic metals, petroleum refineries, organic chemicals from petroleum or natural gas, machinery, renewable resources
- Other sectors are eligible if they support "national competitiveness" or are deemed to be "pioneer" industries
- Self assessment: The tax exemption must be applied for to BKPM or Ministry of Industry
- An interagency verification committee considers the application and the Ministry of Finances issues a tax holiday decision letter
Wayne Forrest
President