1. Corporate Income Tax (“CIT”)
• Remove entirely the provision of 15% cap over the total deductible expenses for advertisement and promotion items.
• Income derived from the following new investment projects shall apply 10% tax rate for 15 years, tax exemption for 4 years and 50% tax reduction for 9 subsequent years:
* Investment projects in manufacturing products on the list of supporting industry products encouraged for development of hi-tech area or production of textile, garments, footwear, electronic – informatics, automotive assembly, mechanical engineering products which cannot be domestically manufactured up to 01 January
2015.