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ASEZA (Arabic: سلطة منطقة العقبة الاقتصادية الخاصة), the statutory institution empowered with regulatory, administrative, fiscal and economic responsibilities within The Aqaba Special Economic Zone ( ASEZ) .
In August 2000, the Aqaba Special Economic Zone Authority Law was passed by the Jordanian Parliament. The law established the Aqaba Special Economic Zone Authority ( ASEZA ) as the statutory institution empowered with regulatory, administrative, fiscal and economic responsibilities within The Aqaba Special Economic Zone ( ASEZ) .
The Aqaba Special Economic Zone (ASEZ) is a private sector-driven development initiative.
ASEZA is the financially and administratively autonomous institution responsible for the management, and regulation of the ASEZ. Six ministerial – level commissioners, each responsible for a major area of regulatory or operational activity, govern the ASEZ. ASEZA is a service – oriented organization offering one – stop assistance covering all investment needs.
The Aqaba Special Economic Zone Authority (ASEZA) has put forward a set of incentives that include :
- A flat 5% income tax on the net profit.
- Exemption from social services tax.
- Exemption from annual land and building taxes on utilized property.
- Exemption from taxes on distributed dividends and profits.
- Duty-free import of goods in commercial quantities from the National Customs Territory and overseas.
- No foreign equity restrictions on investments.
- No foreign currency restrictions.
- Full repatriation of profits and capital.
- Streamlined labor and immigration procedures.
- 100% foreign ownership.
- Up to 70% foreign labor.
- Availability of land for lease or sale.
- Full guarantees on rights and ownership.
See also
External links
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