i) During the lnstallation phase : Exemption from registration taxes.
During the operation phase :
- A reduction of 50% in company tax, proportional tax on industrial and commercial profits and proportional tax on income from securities.
- Carry forward of losses made in the first three years as a result of changing depreciation normally over a period of five years.
- Reduction of taxable profits by an amount which cannot be carried forward amounting to 0.5% of the F.O.B. value of manufactured goods.
- Exemption from taxes on insurance contracts.
The investment code regimes concerned are :
1) The basic regime
2) The small and medium size enterprises regime,
3) The strategic enterprises regime.
NOTE: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought for specifics.
For further information contact Mr Nico Halle, Tel: +237 42 64 79 or Fax: +237 43 26 34 or enter text search 'Nico Halle Law Firm' and 'Mondaq Business Briefing'.