Application for Tax Incentives and Other Tax Concessions

We assist companies to apply for various tax incentives and concessions such as:

• The popular Qualifying Investment Project (QIP) incentive which allows eligible companies to enjoy exemption from Tax on Income, Prepayment of Tax on Income, Minimum Tax and certain customs duties. 
• Exemption from Minimum Tax which otherwise is applicable to companies which keep “improper accounting records”. Minimum Tax is imposed in situations where the tax liability of a company is less than 1% of the turnover of the company. Turnover is defined as sales from the company’s main business activities and subsidiary income which includes rental and free use of its properties, sales of scrap, etc. Exemption of Minimum Tax saves taxes for companies which are loss making or have low tax payable.    
• Obtaining gold or silver compliance certificate from the GDT which allows the company to enjoy easier refunds of VAT overpaid and reduced occurrence of tax audits by the GDT.