What is “Free Zone”?
“Free Zone” is a government measure introduced in 2002 to improve the country’s facilitation of export-related activities. It is a specially designated area defined by the Director-General of the Customs Department under the Customs Acts. The Free Zone is treated as being outside of the country for customs purposes. The zone is intended to facilitate industrial, commercial and other activities that are beneficial to the country’s economy.
Incentives and privileges for cargo in Profreight Free Zone storage.
While under storage in Free Zone, cargo are entitled to all the incentives and privileges that are unmatched by any other kinds of storage services, such as:
· Import duty exemption for all kind of goods including machinery and tools with no time limit.
· Exemption of Value Added Tax (VAT).
· Exemption of Excise tax, Liquor stax and Stamp Duty under Excise Tax Laws.
· Exemption from standard and quality control laws.
· Repacking and repackaging are allowed.
· Customs Office in the zone for easy and fast customs processing.
· Complete infrastructure and utilities.
· Standard BOI incentives that include corporate income tax holiday