Newsletter
FIVE-YEAR TAX HOLIDAY FOR QUAKE ZONE INFRASTRUCTURE INVESTMENTS
The Department of Taxation, Ministry of Fi-nance is in consultation with the Council for Economic Planning and Development and other related agencies over plans to introduce five-year tax holidays for private-sector entities which participate in reconstruction projects in disaster areas. It is also proposed to make private firms which take part in public infrastructure projects in the areas affected by last September's "9-21" earthquake eligible for investment tax credits in respect of their purchase and use, or construction, of various facilities such as pollution control facilities within the disaster area, as well as their expenditure on research and development and personnel training. As the plans stand at present, the Public Construction Commission will de-termine what projects will qualify as "disaster area public infrastructure projects".