Prior to the finance act for FY2020, companies engaged in outsourcing services were granted the following tax benefits for their export turnover:
- Total exemption from the CIT (Corporate Income Tax) for a period of 5 consecutive years starting from the fiscal year in which the first export transaction was carried out;
- And taxation at a progressive scaled rate capped at 50% beyond this period.
- Total exemption from CIT for the first five consecutive fiscal years starting from the date of commencement of their operation;
- And taxation at progressive scale rates capped at 20%, beyond that period.
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