10 Years Tax Relief for Companies Investing in Technology Park

Swaziland court of arms

According to Ministry of Finance Swaziland Principal Secretary Bheki Bhembe, from next financial year April 2016, Government will be offering tax incentive for the companies that will invest in the Royal Science Technology Park and Biotechnology Park. For such companies, the tax rate will be only 10%.

Bhembe mentioned, this 10-year tax concession will facilitate the attraction of high-tech companies to invest in the Kingdom and seek to create favourable starting business conditions for enterprises planning to open their own spin-off companies.

The 10% tax rate will be an exemption on withholding tax on dividends for ten years also known as the Development Approval Order (DAO), which is also available to an approved new investment or expansion of an existing company, provided the expansion is on a stand-alone basis and is distinct from the existing company.

(Siyimbali online reporter November 19, 2015)

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