The government has proposed to introduce a new set of tax incentives for companies operating within "special economic zones". The proposal is contained in the Draft Taxation Laws Amendment Bill. The tax incentives are set to build on the existing policy for industrial development zones. Companies operating in special economic zones will be eligible to claim accelerated depreciation allowances on capital structures (buildings). Companies carrying on certain qualifying activities will be subject to a reduced corporate tax rate of 15% (instead of the standard rate of 28%). Further, all companies in the zones will qualify for VAT and customs relief....