Export support
Brazil 15:
Paragraph 149 of page 82 of the Report by the Secretariat states that "Firms established in an SEZ benefit from several incentives subject to generating net foreign exchange earnings within five years of operation (Table III.18)." SEZ units are exempt from various taxes, including income tax, central sales tax, minimum alternate tax, dividend distribution tax, service tax, and from a series of state taxes (i.e. sales tax, stamp duty, and electricity duty) (Table III.18). SEZ units may import all types of goods (including new and second hand capital goods) duty free both from abroad and from the domestic tariff area (DTA). Imports and exports into/from the SEZ are not subject to routine customs examination; for instance, "let export" orders are granted on the basis of self certification by the SEZ." Furthermore, paragraph 151 (page 82) informs that "As at end 2010, India had 374 SEZs (…)"
What are the requirements for the set up of an EPZ / SEZ?
Apart from "generating net foreign exchange earnings within five years of operation", what are the requirements to the establishment of a firm in a SEZ?
Reply: As per Section 3 of the SEZ Act, a SEZ may be set up either jointly or severally by the Central Government, State Govt. or any person for manufacture of goods or rendering services or for both or as a free trade warehousing zone. Such proposals duly recommended by the concerned state Government are considered by the Board of Approval for SEZs. Any person who intends to set up a SEZ may after identifying the area make a proposal to the state Government for the purpose of setting up of SEZ.
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