Home / Knowledge / News / Textiles / Swaziland replaces tax holidays with incentives
Swaziland replaces tax holidays with incentives
02
Jul '11
Swaziland had quashed tax-break benefits under which foreign investors were exempted from paying tax for a specified time period. This lured several textile firms which wished to gain from Swaziland's export markets and Africa Growth Opportunity Act (AGOA).

Phiwayinkhosi Ginindza, Chief Executive Officer of Swaziland Investment Promotion Authority (SIPA) said that tax incentives in the range of 10 to 30 percent have been introduced after the Government did away with tax holidays.

Apprehending that foreign investors may withdraw any time due to the change in Government's policy, he called on the country's farmers and ginners to actively participate and prepare themselves to assume full charge of the industry, when it becomes necessary.

He said that only three percent of the world's total Foreign Direct Investment (FDI) is invested in Africa. As SIPA has to compete with other nations for attracting FDI, the incentives are so designed as to retain the country's competitiveness, he added.

Mr. Ginindza further stated that during the initial years of their business, the foreign firms were also provided with an option to carry forward their tax obligation until they start making profits.

A majority of the investors, he said, are willing to invest in the country, particularly due to the Africa Growth Opportunity Act (AGOA). He said that they are interested in enhancing cultivation of cotton, which is mainly grown in the Lubombo region.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 21st Aug 2017

Telangana announces sops for textile, apparel sector

The Telangana government recently announced a string of incentives,...

Textiles | On 21st Aug 2017

India’s cotton production may grow by 3.76% in 2016-17

India’s cotton production is likely to rise by 3.76 per cent to 345...

Textiles | On 21st Aug 2017

Turkish apparel exports fall 6.11% in H1 2017

Apparel exports from Turkey declined by 6.11 per cent in the first...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search