World Free Zones Organization News

Includes video referencing how the creation of special economic zones are strategic are in expanding the economy.

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World Free Zones Organization News

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War drones, sea mines needed to defend north: Rinehart

“I hope with the new government a better decision is made in the interests of West Australians and northern Australia, to relocate the planned navy maintenance investment away from the people and port of Fremantle, and relocate to the north-west, to Cape Preston,” said Mrs Rinehart after Saturday’s election rout of Scott Morrison’s Coalition government. Mrs Rinehart reiterated her belief that senior citizens and defence force veterans should not lose their pensions if they choose to work for an income, saying both the community and the economy would be better off if they were able to participate more at a time of labour shortages. “Enabling our economy to grow via urgent and significant tape cuts is the best way to increase jobs and opportunities for our youth, our females and our entire population, and the best way to enable wage increases and standards of living to rise, in turn providing revenue for necessities like, healthcare, emergencies, police, kindergartens, our elderly and more.”Restrictions on stopping pensioners and vets from working, restrictions that mean they can only work for a few dollars a week without losing all or part of their pensions, and onerous paperwork, must go urgently,” she said.

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TECH HUBS Africa: Can studying China’s first SEZ give insight into the continent’s economic recovery?

A remarkable example that benefited from the first high-tech fair was Tencent, China’s Internet giant headquartered in Shenzhen. In an in-person interview with Tencent’s Founder, Ma Huateng, and the company’s key management on 2 August 2019, Mr Ma shared with me and my research team that the “high-tech fair in 1999 helped make Shenzhen known to the outside world as a city developing in the technology direction. Tencent searched for funding opportunities at the first high-tech fair and attracted the interest of IDG Ventures China and PCCW.” Shenzhen’s developmental success as China’s first SEZ demonstrates one SEZ success ingredient: Shenzhen local government officials were seen as that city’s entrepreneurial pioneers.

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STZA hopes for incentives from new government

The visiting delegates were briefed about Special Technology Zones being developed by STZA across Pakistan and the special fiscal and monetary incentives, including but not limited to 10-year tax and duty holiday, and support being offered to domestic and foreign tech companies in the Special Tech Zones. “If companies such as Google enter Pakistan with a range of products, then startups would take further boost in the country. Moreover, jobs would also be created,” Hashmi added.

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An Insight Into SEZs

Special Economic Zones (SEZs) were established in many countries as testing grounds for the implementation of liberal market economy principles. While viewed as economic policy tools for enhancing the acceptability and credibility of industrial transformation policies, attracting domestic and foreign investment and also for the opening up of the economy, SEZs also seek to promote the value addition component in exports, generate employment, encourage import substitution as well as mobilise foreign exchange in the countries for Balance of Payments support.

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UAE Corporate Tax law will continue incentives for free zone based entities

The UAE Ministry of Finance (MoF) has released a public consultation document inviting comments from stakeholders on the proposed legislation. A progressive step by the Ministry, which provides an opportunity for businesses to play a key role in formulating the UAE Corporate Tax law.

While there is no tax on individual income, income from activities carried out by individuals through a commercial license would attract the tax. Further, federal and emirate governments, their departments, and companies carrying out sovereign activities, companies engaged in the extraction of natural resources, charities, pension funds, investment funds (subject to conditions) would be exempt.

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A Complete Guide To Taxation In Special Economic Zones

A Simple Guide To All Of The Tax Incentives That You Can Find In Special Economic Zones Around The World.
By Thibault Serlet

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World Free Zones Organization News

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World Free Zones Organization January 2022 Newsletter

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