Salvatore'S New Law Consensus On Processing Export Zones Is Conducive To Textile And Garment Industry

The Secretariat of the Salvatore presidential office, the Ministry of economic affairs, the Ministry of Finance and the "textile export union of Salvatore processing export area" (CAMTEX), the "Salvatore Exporters Association" (COEXPORT) and the "Salvatore Industry Federation" (ASI) discussed and discussed the "new law on the export processing zones of Salvatore".

Salvatore H, Minister of economic affairs of the State Council, said that the new law of the Salvatore export processing zone, which is currently under discussion, will be changed to the incentives of tax reduction, which is different from the old law, which is directly export-oriented by the export of ctorDada.

The new export processing zone law will stimulate incentives for investment and create jobs.

Another alternative to the old law is to change the original direct tax exemption into a new progressive tax system.

The "San Salvador metropolitan area act (AMSS)" set by the Salvatore administration is exempt from business tax and municipal tax in the first 15 years for the industry in sac Jing area. It is exempt from 60% business tax and 90% municipal government tax from sixteenth to 25 years. It has been exempt from 75% business tax and municipal tax since twenty-sixth years.

Now that the decentralized industry is over concentrated in the capital region of Salvatore, the new law will grant more tax cuts to investors other than sac, such as those outside the area of sajing, that is, 20 years' exemption.

However, investors in Beijing or Beijing still enjoy the exemption from real estate paction tax.

The industries defined by the new law include textile, manufacturing, fishing and liquor making industries, but the cement industry, fuel industry and sucrose content industry have not been included.

For Salvatore investors, the new and old processing zone act is replaced by a 6 month period of buffer period. After the buffer period, the original investment company has additional investment, the amount is 500 thousand.

The existing Salvatore export processing zone law was laid down in 1998. The Salvatore administration will abolish the existing export processing zone law by December 31, 2015, in line with the requirements of the world trade organization.

The draft law on the new export processing zone of Salvatore has not yet been submitted to Salvatore's parliament.

At present, the number of direct and indirect employed persons in the Salvatore processing export area is 240 thousand, of whom 80 thousand are directly employed.