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Monthly Newsletter
Tourism Law No 186 Privileges
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Karawani law Firm

 

Title: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.