SEZAD Free Trade Zone Halves Fees For Omani SMEs
by Lorys Charalambous, Lowtax.net, Cyprus
05 April, 2017
The Special Economic Zone Authority in Duqm (SEZAD), a low-tax zone located on the coast of southern Oman, has halved the fees for its services to local small and medium-sized enterprises (SMEs).
The decision is intended to encourage SMEs to work in SEZAD, and to allow them to benefit from the investment opportunities available there.
SEZAD is a special economic zone located in Oman, which offers an attractive package of investment incentives and tax cuts to local and international investors. These include streamlined access to land, with long-term leases and reduced rates offered; no restrictions on foreign ownership and minimal investment capital requirements; and a waiver/reduction of corporate tax and customs duties.
The reduction in fees applies to SMEs owned entirely by Omanis and registered with the Public Authority for Small and Medium Enterprises Development (Riyada). The reduction is valid for five years, and renewable for a similar period if necessary.
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