Law No. 186 dated 1985 , Regarding Tourism Investm
Topic:
Tourism Project established according to the decision of the Supreme Council of Tourism No. 186 for 1985 has many facilities and benefits:
This projects are exempted from all taxes and financial fees for licensing and establishing the project.
Imports is allowed for the equipment, building materials, cars, furniture, and all are exempted from taxes and custom duties in condition not to exceed a determined amount of the total project amount.
These Projects, Their profits and distributed items will be exempted from all taxes imposed on revenues, from real estate and non-built plot revenue tax. For a period of seven years from the date of starting investment. And 50% exemption of the income tax after this period.
Other facilities could be granted by the approval of the Supreme Council of Tourism.
Facilities in transferring the profits from the first year of investment. In USD outside the country.