Investment
The Investment Promotion Act provides for tax and non-tax privileges. Tax privileges are exemption and reduction of corporation income tax to save profits of company for reinvestment and creation of new projects and exemption of import duties on machinery and raw materials. Non-tax privileges can be provided in the form of work permits of foreign experts and technicians and stay of members of foreign experts and technicians. To obtain both tax and non-tax privileges, an application for investment promotion and supporting documents must be filed with the Office of the Investment Promotion and procedures must be complied with.
