The bill, if passed into law, proposes to provide the following additional tax incentives to companies:
- Tax holiday increase for companies engaged in the mining of solid minerals and gas utilization (downstream operations) from three years to five years
- Provision of a 10-year tax holiday for new companies located in areas without government-provided infrastructure
- Reduction of the distance requirement to qualify for rural investment allowance from 20km to 10km for businesses located in areas without government-provided infrastructure
- Increase in the rate of rural investment allowance to be claimed on tarred roads from 15% to 20%
- Repeal the investment tax relief granted for the unavailability of telephone infrastructure
- Increase in the rate of investment tax relief to be claimed on tarred roads from 15% to 20% <./ul>
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