(Fiscal Incentive) Valle Agro Limited (2019)
Statutory Instrument No. 47 of 2019 represents an order approving Valle Agro Limited as a beneficiary under the Fiscal Incentives Act, Chapter 54 of the Laws of Belize.
Based on the Order’s description, Valle Agro Ltd., “shall manufacture a plant based, biodegradable, agricultural surfactant used in the Agro-Chemical and Agricultural sectors.”
Located in the Cayo District, the approved enterprise “shall be permitted to import such quantity of such items free of customs duty, and revenue replacement duty as shall have been proved unavailable from suitable local products or raw materials, and necessary for the establishment/expansion and operation of the Company, for the sole use thereof, but limited to: Plant, Machinery, and Equipment; Raw Materials & Packaging Materials; and Utility & Transport Vehicles (1 Delivery Truck, 1 Fork Lift).”
The duty exemption period ends on June 10, 2021, with the company receiving no tax holidays. Also, among the ten conditions that the Company must adhere to, it is stipulated that it must continuously “employ at seven (7) persons by 10th June 2021.”
