New tax incentives introduced

On 16 July 2009, the Council of Ministers introduced a new tax incentive regime by way of Decree No. 2009/15199, which entered into force on that date. The new incentives introduce, inter alia, a reduction of corporate and individual income tax for qualifying investments. The basic features of the new incentive regime are summarized below.

Qualifying investments

Investment incentives are granted in respect of qualifying investments, certified by an in…