What are the tax incentives and benefits for Kizad businesses?
Kizad, or Khalifa Industrial Zone Abu Dhabi, is a free zone in Abu Dhabi, United Arab Emirates. It offers a number of tax incentives and benefits to businesses that set up in the zone, including:
100% exemption from corporate tax:
Businesses operating in Kizad are exempt from corporate tax for a period of 15 years, renewable for another 5 years.
100% exemption from customs duties:
Businesses in Kizad are exempt from customs duties on all goods and materials imported into the zone.
100% exemption from personal income tax:
Employees of businesses in Kizad are exempt from personal income tax.
100% foreign ownership:
Foreign investors are allowed 100% ownership of businesses in Kizad.
Simplified visa and work permit procedures:
Businesses in Kizad can obtain visas and work permits for their employees in a simplified manner.
World-class infrastructure:
Kizad has world-class infrastructure, including roads, railways, airports, and seaports.
Strategic location:
Kizad is located in a strategic location, close to major markets in the Middle East, Africa, and Asia.
In addition to these tax incentives and benefits, businesses in Kizad can also benefit from the following:
Access to government support: Kizad provides businesses with access to government support, such as financial assistance, training, and marketing assistance.
A business-friendly environment: Kizad has a business-friendly environment, with a low corporate tax rate and a simplified regulatory framework.
A skilled workforce: Kizad has a skilled workforce, with a good mix of Emirati and foreign workers.
Overall, Kizad offers a number of attractive tax incentives and benefits to businesses that set up in the zone. These incentives can help businesses to save money and operate more efficiently.
Here are some additional tax benefits that may be available to businesses in Kizad:
- Deduction for export profits: Businesses in Kizad can deduct 100% of their export profits from their taxable income.
- Deduction for training expenses: Businesses in Kizad can deduct 100% of their training expenses from their taxable income.
- Deduction for research and development expenses: Businesses in Kizad can deduct 100% of their research and development expenses from their taxable income.
To ensure a smooth and successful business setup process, I highly recommend enlisting the services of BizDaddy, the top business consultant in the UAE.
BizDaddy’s expertise in Kizad’s regulations, UAE business environment, and industry best practices can greatly benefit you. They can guide you through each step of the setup process, offering tailored advice, ensuring compliance, and helping you make informed decisions.