Project approved under Free Economic Zone regime may enjoy the following incentives:

  • 10 – Year Corporate Tax Holiday and 25% Tax for the subsequent ten years.
  • 10 – Year Withholding Tax Holiday on dividend to non-residents.
  • 75% Duty and VAT Exemption on raw materials, machinery, equipment and other inputs.
  • Stamp Duty Exemption.
  • 100% investment deduction on capital expenditure within 20 years.
  • Exemption from tax on dividend for ten years.
  • Duty and Tax Free Import of goods from domestic tariff area permissible.
  • Duty Free import of material for construction of factory buildings.
  • Duty Free export of goods produced.
  • Exemption of Income Tax on interest on borrowed capital.
  • Exemption from payment of all taxes and levies imposed by local government authorities for goods and services produced in a Free Economic Zones.
  • On site customs inspection of goods in lieu of off-port inspection.

Project approved under Free Port regime may enjoy the following incentives:

  • Exemption from payment of import duty, exercise duty, sales tax, (VAT) and any other import levy on all goods imported into the Free port Zones.
  • Exemption from any tax on all goods destined for re-exports.
  • Exemptions from local taxes against all goods produced in the Free ports that are exported
  • Exemption from payment of Corporate Tax for the first twenty (20) years.
  • No limit to the duration that goods may be stored in the Free port Zones.
  • Hundred percent (100%) retention of all profits.
  • Hundred percent (100%) foreign ownership allowed.
  • Free repatriation of profit.