What incentives does the government give to foreign locators?
Income tax holiday (ITH) or exemption from corporate income tax for four years, extendable to a maximum of eight years. After the ITH period, the option to pay a special 5% tax on gross income, in lieu of all national and local taxes. Exemption from duties and taxes on imported capital equipment, raw materials and components, spare parts and supplies. Permanent resident status for foreign investors and immediate family members. Employment of foreign nationals. Domestic sales allowance equivalent to 30% of total sales.
