Incentives for storage waste

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Incentives for the Storage, Treatment and Disposal of Toxic and Hazardous Wastes

Incentives are granted to encourage the setting up of proper facilities for the storage, treatment and disposal of toxic and hazardous wastes. Companies which are directly involved in the storage, treatment and disposal of toxic and hazardous wastes in an integrated manner are eligible for the Pioneer Status incentive for five years.

Those companies which are themselves waste generators and wish to establish facilities to store, treat and dispose of their wastes, either on-site or off-site, would be eligible for a special allowance at an initial rate of 40% and an annual rate of 20% for all capital expenditure.

As a further incentive, both categories of companies will enjoy import duty and sales tax exemption for machinery, equipment, raw materials and components for the storage, treatment and disposal of toxic and hazardous wastes.

In addition, environmental protection equipment is given an initial allowance of 40% and an annual allowance of 20% to enable the full amount to be written off within a period of three years.

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