MOMAF on CFZ

Customs Free Zones (CFZ) will gain further lure for foreign logistic companies with the help of complete exemption from direct tax such as corporate tax for companies that invest over 10 million dollars there.
A MOMAF official said that it would prepare ways to stimulate CFZs in early March and will discuss the issue with relevant government bodies such as MOFAT. The government will allow more shipping companies access to benefits including reductions from direct tax by relaxing regulations. Domestic companies will receive immediate benefits, the official said.
MOMAF said that they had to relax the critical levels for direct tax reductions to 1 million dollars from the 3 million dollars. The average investment for foreign logistic companies is between 5 and 7 million dollars.