What are the tax exemptions my project may enjoy?

Based on the Article 8 of the investment encouragement Legislative Decree No.8 of 2007 investment projects shall enjoy exemptions mentioned in the Income Tax Legislative Decree of 2006, and its amendments and in all benefits and guarantees specified on it in this Legislative Decree as follows:

The projects licensed under the investment encouragement Decree No. 8 are granted a levy dynamic deduction for the duration of the whole Project life as the Income Tax Decree No. 51 of 2006 has specified:

A- The tax shall be imposed on the net profits according to the following rates, in addition to the National Defense charges, Schools fees, the Municipal portion and the contribution to support the continual development except the Local Administration fees:

– 10% on the part of the net profit between the exempted minimum limit and SYP200.000.

– 15% on the part of the net profit exceeding the SYP200.000 limit and less than SYP 500.000.

– 20% on the part of the net profit exceeding the SYP500.000 limit and less than SYP1.000.000.

– 24% on the part of the net profit exceeding the SYP1.000.000 limit and less than SYP3.000.000.

– 28% on the part of the net profit exceeding the SYP3.000.000 limit.

B − The income tax is imposed on the net profits achieved by joint-stock companies, whose shares are placed on the market for underwriting at a percentage no less than 50% in both Public and Private Sectors, of which its main office is in Syria with all of its activities at a rate of 14%, including all the additions, and is exempted from the additions for the sake of the Local Administration

C – The income tax is imposed on the net profits achieved by LLC’s and shares companies whose main offices or branch are located in Syria in both Public and Private Sectors for all of its activities and projects licensed under the encouragement Decree at a rate of 22%, including all additions and is exempted from the additions for the sake of the Local Administration

– All Tax rates mentioned in the Article 3 of this Legislative Decree are reduced according to the following basis:

A- 2 degrees for the industrial projects established in the remote areas.

B- 1 degree for the industrial projects which legally employ 25 workers or more duly registered with the National Insurance Scheme, this reduction becomes 2 degrees for the industrial projects which legally employ 75 workers or more who are duly registered with the National Insurance Scheme and becomes 3 degrees for the industrial projects which legally employ 150 workers or more duly registered with the National Insurance Scheme.

C- 1 degree for the industrial projects established within the industrial cities.

D- 2 additional degrees of deduction shall be granted to the following projects:

– All licensed industrial projects under the provisions of the Legislative Decree No.8 of 2007 in the industrial cities of Hesya and Deir Ezzor.

– The Electricity Generating Stations, the substitute energy resource projects and fertilizer factories.

E – 2 degrees if any of the following is available:

– Industrial projects which depend on local raw materials for its production, which are described in a regulatory decision issued by the Minister of Finance in cooperation with the Ministry of Industry.

–  The industrial projects which save the energy consumption, which are described in a regulatory decision issued by the Minister of Finance in cooperation with the Ministry of Electricity.

– The industrial projects which use tools, methods and machinery, which protect the environment and which are described in a regulatory decision issued by the Minister of Finance in cooperation with the Ministry of Local Administration and Environment.

– The industrial projects which export 50% of their production, which are  described in a regulatory decision issued by the Minister of Finance in cooperation with the Ministry of Economy