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<h1>Tax deduction for exports: limited-period exemption for export profits in specified zones, subject to eligibility and compliance.</h1> A limited-period tax deduction is allowed for profits from export of goods or computer software by newly established undertakings in specified export-promoting zones, subject to location and formation eligibility, repatriation of export proceeds in convertible foreign exchange, and procedural compliance. For special economic zone units a staged deduction applies with an option to credit part of profit to a Special Economic Zone Re-investment Allowance Reserve Account for prescribed reinvestment purposes; misuse or non utilisation of the reserve results in the amounts being deemed profits. Export-attributable profit is determined by the ratio of export turnover to total turnover, and transitional and anti-avoidance adjustments affect depreciation, loss carryforwards and other incentives.
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