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There is a 20% withholding tax for interest paid to non-resident lenders.However the government may grant tax exemption for any “approved foreign loan” if,
- - The loan are utilised for the purchase of productive equipment for the purposes of its trade or business;
- - The credit facilities are obtained through financial agreement with the foreign lending company; and
- - The amount of loan is not less than B$200,000
Tax Relief Period
Depend on the financial agreement with the foreign lender.
Investment Incentives
Exemption of approved foreign loan interest from paying withholding tax. |
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