The Federal government has promulgated Special Technology Zone Ordinance for development of scientific and technological ecosystem through development of Zone. The Authority will provide institutional and legislative support for the technology sector with international competitive and export oriented structure and ecosystem.
The Authority shall be primarily responsible for establishment of zones with the approval of board.
Following are incentives for zone developers are:
- Exemption from income tax for the period of ten years.
- Exemption from all custom duties and taxes for a period of ten years on capital goods.
- Exemption from general sales tax on goods and d services on import of plant, machinery, equipment and raw material for consumption of item within zones.
Following are incentives for zone enterprises:
- Exemption from income taxes including withholding taxes and presumptive tax for a period of ten years.
- Exemption from all custom duties and taxes for a period of ten years on capital goods.
- Exemption from general sales tax on goods and d services on import of plant, machinery, equipment and raw material for consumption of item within zones.
- Exemption of property for ten years.
- Exemption from tax on dividend income and long term capital gains from investment in venture capital undertaking for a period of ten years