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Article: Colombia: Government approves Acerias Paz del Rio for tax-free scheme.
- Article from:
- TendersInfo
- Article date:
- July 28, 2008
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Byline: ismail05
Colombia's commerce, industry and tourism ministry has approved a proposal by local steelmaker Acerias Paz del Rio (APR), controlled by Brazilian group Votorantim, to create a tax-free zone at its plant, a ministry spokesperson told BNamericas.
"Among the many benefits, the free trade regimen will provide the company access to a single 15% income tax and it would exempt the company from customs duties like the value-added tax VAT and other taxes on goods imported from overseas," the spokesperson said.
APR would also be exempt from the VAT on raw materials, input supplies and finished goods sold from a national customs area into ...