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.
Read more
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.
Read moreUAE 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.
Read moreA 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
World Free Zones Organization News
Link to current newsletter.
Read moreWorld Free Zones Organization January 2022 Newsletter
Link to current Newsletter.
Read moreWorld Free Zones Organization November 2021 newsletter
The World Free Zones Organization (World FZO) is a global not-for-profit organization that provides one authoritative, collective voice representing the interests of free zones around the world. The World FZO was launched in Dubai, UAE, in May 2014, by its 14 founding members and under the auspices of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai. Registered in Geneva and headquartered in Dubai, the World FZO is the only truly international, multi-lateral organization for zones in the world today.
Read moreDeloitte | Tax Alert Special Economic Zones Authority Act 2019
In this issue, we introduce the Special Economic Zones Authority Act 2019 summarising the key administrative features and notable incentives under the Act.
Read moreMohammed bin Rashid issues Law creating Dubai Integrated Economic Zones Authority
The establishment of the Dubai Integrated Economic Zones Authority is a vital move to enhance Dubai’s global competitiveness and raise its investment attractiveness. The private sector is a major partner in our development journey over the next 50 years and the government continues to explore innovative initiatives to support their growth and success. Our objective is to make Dubai the destination of choice for global investors and a major focal point for global commerce.
Read moreVale and Asian miner seek Brazil nod to fast-track mine project
Mining giant Vale SA and an Asian-owned metals producer are among the first to tap a Brazilian program that aims to cut red tape and speed up mining projects in the South American nation.
Read more