enterprise zone

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An area, designated as such by the government, in which its aim is to restore private-sector activity by removing certain tax burdens and by relaxing certain statutory controls. Benefits, which are available for a 10-year period, include: exemption from rates on industrial and commercial property; 100% allowances for corporation- and income-tax purposes for capital expenditure on industrial and commercial buildings; exemption from industrial training levies; and a simplified planning regime.

Subjects: Earth Sciences and Geography — Financial Institutions and Services.

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