Depreciation methodology for capital goods removed from export and trade zones clarified; assessment uses used car rates and quarterly flat rate. Depreciation for capital goods taken out of Free Trade Zones, Export Processing Zones or 100% EOUs and assessed for duty is to be calculated using the depreciation rates applicable to used cars at assessment; a uniform quarterly flat rate applies thereafter, subject to an overall cap. Depreciation eligibility requires prior in zone use for not less than three years for FTZ/EPZ and completion of the stipulated export obligation for 100% EOUs.
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Depreciation methodology for capital goods removed from export and trade zones clarified; assessment uses used car rates and quarterly flat rate.
Depreciation for capital goods taken out of Free Trade Zones, Export Processing Zones or 100% EOUs and assessed for duty is to be calculated using the depreciation rates applicable to used cars at assessment; a uniform quarterly flat rate applies thereafter, subject to an overall cap. Depreciation eligibility requires prior in zone use for not less than three years for FTZ/EPZ and completion of the stipulated export obligation for 100% EOUs.
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