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What is a free trade zone/export processing zones?

April 26, 2017export Free Trade zone zones

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What is a free trade zone/export processing zones?

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A ‘free trade’ or ‘export processing’ zone is an industrial area, set up by countries in order to attract foreign investment. Financial incentives include exemptions on import and export duties, capital gains taxes, property and land taxes, sales and consumption taxes. Additionally there may be tax holidays – a period of no tax obligations.