Incentives 

To promote industrial growth, tax incentives are accorded to various operators  as described below. 

Growth Points Incentives
To promote or encourage business to invest in growth point areas, investors enjoy tax incentives. Incomes derived from:
(a) new manufacturing project is taxed at 10% for the first 5 years,
(b) new project providing infrastructure is taxed at 15% for the first 5 years.

Build, Own, Operate, Transfer (BOOT)or Build, Operate, Transfer  (BOT)

This is where a contractor enters into a contract with the State or the statutory corporation under which he undertakes to construct an item of infrastructure in consideration for the right to operate or control for a specified period.  After this period, the contractor will transfer ownership or control of the item to the State or statutory corporation under consideration. 

The incentive is in the form of a tax holiday from paying Income Tax for the first five years of the arrangement. Income Tax is paid at a rate of 15% for the second five years and 20% for the third five years. Thereafter, tax is paid at normal rates of tax. 

Taxable Income
Specified Percentage
Taxable income of individual from trade or investment
30
Taxable incomeof company or trust
30
Taxable income of pension fund from trade or investment
15
Taxable income of licensed investor (before the end of the 5th year of his or her operations as such)
0
Taxable income of licensed investor (after the 5th year of his or her operations as such)
15
Taxable income of holder of of special mining lease
15
Taxable income of company or trust derivied from mining operations
15

Taxable income of person engaged in in approved BOOT or BOT arrangement:

First 5 years of the arrangement

Second 5 years of arrangement

0

15

Taxable income of industrial park developer (after the fifth year of his/her operation as such)
15
Taxable income of operator of tourist facility in approved tourist development zone (after the fifth year of his/her operation as such)
15
Taxable income of approved manufacturing company in growth point area
10