30
May
The new investment incentive directive gives no tax exemption for education, training, printing industry and health services investments while on the contrary, it has given tax relief to alcohol related investments. In its 8th ordinary summit, the Council of Ministers approved the new directive for investment incentives. The bill gives the Ministry of Finance (MoF) power to decide on incentive packages which was the mandate of the investment board.The purpose of revising the incentive is said to encourage investors in accordance with the new investment proclamation approved in January 2020. The directive authorized MoF to grant tax incentives to investments…