Why you should invest in a pressure cooker

The other day a friend asked me what is the importance of purchasing a pressure cooker.

Licensed EPZ projects (foreign, local or joint venture) are entitled to the following incentives:

Fiscal benefits

  • 10 year corporate income tax holiday and a 25% tax rate for a further 10 years thereafter (except for EPZ commercial enterprises)
  • 10 year withholding tax holiday on dividends and other remittances to non-resident parties (except for EPZ commercial licence enterprises)
  • Perpetual exemption from VAT and customs import duty on inputs – raw materials, machinery, office equipment, certain petroleum fuel for boilers and generators, building materials, other supplies. VAT exemption also applies on local purchases of goods and services supplied by companies in the Kenyan customs territory or domestic market. Motor vehicles, which do not remain within the zone, are not eligible for tax exemption.
  • Perpetual exemption from payment of stamp duty on legal instruments
  • 100% investment deduction on new investment in EPZ buildings and machinery, applicable over 20 years.

 


Other benefits of investing in EPZS include:

  • Operation under essentially one licence issued by EPZA. EPZA seeks to minimize bureaucracy and administrative procedures and facilitate licensing, set up and operations of EPZ projects.
  • Rapid Project approval and licencing (with exception of projects requiring environmental licence from National Environmental Management Agency NEMA)
  • Liberalised foreign exchange regime and easy repatriation of capital and profits, access to foreign currency accounts, domestic and offshore borrowing.

 

 

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