Tuesday, February 7, 2023

The government has agreed to provide a 100% tax credit to six sectors

The government has decided to provide a 100% tax credit to six sectors after the removal of revenue exemptions from IT services and IT. Coal extract; green industry; Renewable energy and shipbuilding projects.

A senior government official told that the 2021 Income Tax Law (second amendment) proposes to replace the income tax exemption with a 100% tax credit for IT services and IT services. Coal extract; green industry; Renewable energy and shipbuilding projects.

These sectors are eligible for a 100% tax credit when they file their income tax returns.

These sectors are not required to pay taxes, they are only required to maintain minimum documents to apply for tax credits while filing their income tax returns.

With the Income Tax Law (second amendment) of 2021, the sales tax of 1.5% or the minimum tax applicable to exempted companies will be eliminated.

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