Corporate Income Tax exemption - Manufacturing of Machinery and Equipment for Generation of Renewable Energy
Name of Incentive
Corporate Income Tax exemption - Manufacturing of Machinery and Equipment for Generation of Renewable Energy
Type of Incentive
Tax Incentive
Ministry
Agency
Sector
Electrical Machinery
Sub Sector
Product/Activity
Incentive Details
Description
Profits and gains derived by a taxpayer, from an industrial undertaking setup by 31 December 2016 and engaged in the manufacture of plant, machinery, equipment and items with dedicated use (no multiple uses) for generation of renewable energy from sources like solar and wind are allowed exemption from tax for a period of 5 years beginning from 1 July 2015.