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Benefits enjoyed by companies who set up production units in the SEZs are
7. Benefits enjoyed by companies who set up production units in the SEZs are:
- they do not have to pay taxes for five years
- reduction in excise duty
- reduced tariffs and barriers
- none of the above
Answer: A) they do not have to pay taxes for five years
Explanation:
SEZs were introduced in 2000 in India. Currently, in addition to tax exemptions, industries established in the SEZs enjoy financial benefits that include the import and export of goods, exemptions from goods and services, and taxes imposed by provincial governments.