- The establishment of an exemption from the payment of business licenses, company tax, and land tax by such entities, although they remain liable, to VAT, registration fees and stamp duties, income tax on investments in movable capital, and withholding taxes and levies collected from third parties (subject to any legal exemptions that may be provided for)
- The requirement for an exemption certificate is removed for the VAT exemptions provided for in Articles 122 and 128 of the General Tax Code, including the VAT exemptions for the agriculture sector and VAT exemptions for certain real estate transactions, international traffic transactions, tuition and boarding fees, essential goods, and several others;
- Measures to revive the banana sector are introduced, including:
- for banana sector companies located in Economic Damage Zones (EDZs), the same tax facilities already granted to new companies investing in EDZs are granted for a period of 7 years, including exemptions from VAT on purchases of goods and services and inputs;
Source Orbitax
