Fiscal Code To Broaden Investment

The Mozambique Assembly has passed on the second reading, an Act revising the country's fiscal code. According to the new code, mega-projects will no longer receive the 'exceptional' tax benefits. that have since the previous law was passed in 1993. Instead, benefits are to be directed towards areas of the country to which the government is seeking to attract investment through Rapid Development Zones. With unanimous support from Frelimo members, all 56 of the opposition Renamo-U bloc abstained, on the grounds of 'social exclusion, suggesting that designation of such zones will depend on the political leanings of particular areas.

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