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Today’s Top Headlines




Jafza Reports On The Free Zone's Growth

by Lorys Charalambous, Tax-News.com, Cyprus

15 April 2016

The number of companies registered in Dubai's Jebel Ali Free Zone (Jafza) increased eight percent per year between 2011 and 2015, according to a recent statement from Jafza.

Of the new companies registered in 2015, 44 percent are based in the Middle East. Companies from Asia-Pacific and Europe accounted for 23 percent and 21 percent, respectively, while companies from the Americas and Africa account for six percent each.

The statement from the free trade zone said that 312,000 square meters of land was newly leased to companies in 2015.

Jafza offers a number of benefits to companies established in the zone, including: zero percent corporate tax guaranteed for 50 years, zero percent import and re-export duties, zero percent personal income tax, and no restrictions on the repatriation of capital and profits. 100 percent foreign ownership is permitted.

TAGS: tax | tax incentives | export duty | corporation tax | tax breaks | import duty | trade | Dubai | free trade zone | Europe | Asia-Pacific | Africa | Middle East

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