Show House
Pine Tree 1 - Classic 130 m2
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| Buyers Guide |
| Government Incentives |
Some government incentives on offer include:
• Import duty exemptions for goods concerning the project.
• Leasing of land for extended periods at favourable rates.
• Government contribution to charter risk.
• Exemption from income tax and corporation tax for a period of ten years in the case of investment in tourist accommodation units.
• For public companies, which have shareholders in excess of 50, tax exemption can be extended.
• Annual interest and principal instalments of foreign loans enjoy a transfer guarantee.
• Contribution to brochure/advertisement expenditure up to 75%.
• Tourism establishments or hotels may deduct each year 20% of their annual foreign exchange gross earnings from taxable income.
• Repatriation of profits without restriction or limitations.
• Employment of foreign personnel who are not available locally.
• Free transfer of proceeds in case of liquidity of investments.
• Transfer of net income earned by foreign personnel is free.
• Exemption of constriction licence fee.
Also deductible when calculating annual taxable profit are all travel expenses related to promotion and marketing, plus all kinds of advertisement, promotion and marketing expenses.
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