Tax Rate - 0.5% Volume of Business

Exemptions – 100% exemption semester commence & 2 following

Exemption from municipal license taxes will vary from 60%, 75% to 80%, depending on the industrial classification of the eligible company. Apparel, textile, shoe, leather products and fish canning companies will enjoy a 75% exemption, trading companies will enjoy an 80% exemption and companies in other industries will enjoy a 60% exemption. In addition, the eligible business will receive a total exemption from municipal taxes during the construction period and during the first three semesters of operation.

Tax Incentives Act, section 6(b)