Arabic
Industry Sector
Incentives
Income Tax Customs Duty General
Industry and mining
Export of locally/ manufacturedprocessed products
Tourism promotionoperation of hotels and tourist villages (excluding management contracts)
Production & processing of farm products- poultry farming, processing/manufacturing animal products and agro industries
Fishing, fish processing & fish farming
Public utility projects(excluding management contracts & project execution contracts)
Universities, higher education institutes,schools, kindergartens and training colleges
Hospitals and medical education institutes
 • 5 year tax holiday (renewable)
• Tax losses icurred during tax holiday may be claimed against future profits (no time bar)
•No personal income tax		 • Exemptions on import of plant, machinery & raw material for 5 years from commence ment of production (renewable once) • Repatriation of capital & profits of the project permissible
•The businesses may not be confiscated/ expropriated unless in the public interest with equitable compensation
• No import registration (upon approval of relevant authority) - import of production accessories, material, machinery, spare parts and appropriate means of transport
Expansion (increase in capital-increased fixed assets for: increased production capacity, new products, new services/ activities) of the above businesses are also entitled to the above concessions
Industrial installations • 5 year tax holiday (renewable)
• No personal income tax		 Exemptions on import of:
• Machinery & spare parts for commencement, expansion, modernisation or replacement.
• Raw material & partially processed goods (for 5 years, extendable)		 Ministry of Commerce & Industry may provide:
• Financial incentives
• Subsidised utilities
• Preferential land allocation
• Trade promotion