Bill on investment: introduction of three incentive schemes into investments.

The new bill on investment, which would be presented at the National People’s Congress (NPC), has introduced three incentive schemes which concern priority sectors, the zones to which the State grants a particular interest and the investments with a structuring impact.

The incentive scheme for priority sectors is referred to as the “sector scheme”, that of the areas to which the State grants a particular interest is referred to as the “area scheme”, while that dedicated to investments of a structuring nature is called the “investments structuring scheme”.

Investments made in the fields of mining and quarrying, agriculture, aquaculture and fishing, industry, the agro-food industry, the pharmaceutical and petrochemical industry could benefit from sector scheme, in addition to services and tourism, new and renewable energies, as well as the knowledge economy and ICTs.

 These investments may also benefit, in addition to the tax, parafiscal and customs incentives provided for under common law, from exemption from customs duties for imported goods and exemption from VAT for goods and services imported or acquired locally and directly linked to their execution.

 They also benefit from exemption from onerous transfer duty for consideration and from land registration tax, for all real estate acquisitions made within the framework of the concerned investment, as well as exemption from registration fees payable for company deeds of incorporation and capital increases.

 They also benefit from exemption from registration fees, land advertising tax, as well as state remuneration relating to the concessions of built and unbuilt real estate intended for the realization of investment projects or even development exemption from property tax on real estate properties within the framework of the investment for a period of 10 years from the date of acquisition.

 Concerning investments eligible for the “zone scheme”, it’s about those made in localities of the High Plateaus, the South and the Great South, in localities whose development requires special support from the State or even localities with natural resource potential to be developed.