Free Zone bill goes to committee

[NewsWhore]

The Senate has sent a bill proposing complete tax-free status for industrial free zone industries to its Permanent Commission on Industry and Commerce and Free Zones for further study. The bill, which was sent to Congress by President Fernandez, seeks to increase the competitiveness of Dominican free zone industries. It proposes 100% relief from income taxes and import duties on raw materials, equipment and vehicles. When Fernandez sent the bill to Congress, he said that in order to move towards the development of the free zones it was necessary to have a judicial base upon which to build and sustain competitiveness.

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